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Runge (ASX:RUL) upgrades FY10 forecast by 15%

Runge (ASX:RUL) upgrades FY10 forecast by 15%

Mining technology company Runge (ASX:RUL) has upgraded its FY10 guidance by 15%, due to rising demand for its services.

The company is now forecasting an FY10 net profit of between $2.1 million and $2.3 million, and an underlying ebita of $5.6 million to $5.9 million.

This forecast is a 15% increase on the top end of Runge's previous guidance for the year, delivered in May.

The increased expectations were attributed to rising demand for Runge's software and consulting services, both from within Australia and internationally.

The company said its desktop software sales were in line with FY10 results of $8.6 million, but that no large software sales occurred during the year.

Runge managing director Tony Kinnane was upbeat about the company's prospects looking ahead. “We are confident along with our clients that demand for major resources will continue to grow,” he said.

Runge recently opened offices in Mongolia and Russia, and expects future business in those areas to be “very positive,” he added.

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Tags GuidanceASX:RULit servicesRungemining

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