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Energy One expects return to profit in FY10

Energy One expects return to profit in FY10

Energy One (ASX:EOL) expects to return to a $300,000 profit in FY10, after two long years re-building the company.

In an update to shareholders Energy One, which develops software for energy markets, said the company is in a solid cash position, with expected cash in hand at year-end of $2.5 million, and was debt free.

“This is a solid turnaround from the significant loss the company posted upon its exit from energy retailing,” CEO Richard Brys said.

“We have created a stable company with long-term viability.”

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