Manaccom's software unit back on track

Manaccom's software unit back on track

Software publisher and online website operator Manaccom (ASX:MNL) has announced that its software distribution division has been turned around through a restructuring.

The unit is now on track to deliver a positive contribution to earnings in FY11, Manaccom said.

But Manaccom warned that it will be forced to take a one-off writedown of $9.5 million in FY10, primarily due to the software business.

The company’s online lottery division meanwhile is on target to deliver a record $5 million pre-tax profit in FY10.

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