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QRSciences swings back to $539k profit

QRSciences swings back to $539k profit

Security technology developer QRSciences (ASX:QRS) has announced that its core subsidiary, QRSciences Security, swung back to a $539,000 net profit in the third quarter.

The result, which compares to a loss of $272,000, was helped along by a 5% increase in revenue to $4.03 million. But cash flow was negative by $157,000.

The company said it had successfully divested its non-core and non-earning ventures, including the majority of its investment in Spectrum during the quarter for a profit on disposal of $3.82 million.

QRSciences added that it was now emphasizing growth, both organically and through acquisitions.

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