Menu
Menu
ISS learning to live with strong AUD: CEO

ISS learning to live with strong AUD: CEO

Industrial software developer ISS Group (ASX:ISS) is learning to live with a high-value Australian dollar, according to CEO Tony Hanavan.

Forex losses will have impacted earnings by $1 million in FY10, Hanavan said in an investor presentation.

But cost restructuring throughout the financial year has reduced operating costs, helping to alleviate these losses and return gross margins back to acceptable levels.

Hanavan expects the company to continue to operate in strong working capital position and no debt in FY11.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Error: Please check your email address.

Tags ISS GroupCEOsoftwareforeign exchange

More about ISS Group

Show Comments

Market Place