ISS (ASX:ISS) swings back to profit in FY10

ISS (ASX:ISS) swings back to profit in FY10

Industrial software developer ISS Group (ASX:ISS) has revealed it swung back to profit in FY10, despite what it called a “continuing subdued demand” for IT services in the resource markets.

Unaudited results indicate ISS Group's FY10 net profit grew 242% to $927 million, ISS said. In the fourth quarter, profit was $731,000, compared to a $3.2 million loss in 4Q09.

While revenue for the full year likely only grew 2% to $18.7 million, expenses were shaved by 29% and amortisation and depreciation also fell 9%.

The company registered a foreign exchange loss of $519,000 – a 53% increase on forex losses from FY09.

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

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags financial resultsISS GroupASX:ISS

Show Comments