Inventis reports gains from technology unit

Inventis reports gains from technology unit

Product design and manufacturing company Inventis (ASX:IVT) reported that its technology division recorded health growth in 1H10.

The unit earned $6.3 million in revenue – an 8% year-on-year increase – and ebitda of $1 million, compared to $700,000 from the same period the year before.

The company said it had received public and private sector interest in its SafeZone safety and warning system application, while sub-unit Opentec Solutions continues to focus on procuring defense contracts.

But the technology division’s strong performance wasn’t enough to compensate for losses in Inventis’ other core unit, its furniture division.

Group sales declined to $13.4 million from $15.9 million. Meanwhile, the company swung to a $1.2 million loss, from a $3.9 million profit the year before.

Inventis is projecting full-year revenue of $30 million, and an ebitda of $1 million, for FY10.

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Tags technologyfinancial resultsInventis

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