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Scantech (ASX:SCD) FY10 profit slumps 72%

Scantech (ASX:SCD) FY10 profit slumps 72%

Mining industry technology company Scantech (ASX:SCD) has warned it is expecting a 72% decrease in FY10 profit to $441,000 on exchange rate losses and reduced sales.

Unaudited results indicate that revenue was 17% lower at $13 million, the company said.

The net result included a $404,000 loss from exchange rate variance, including $250,000 of realised exchange losses.

SCD shares grew by 4.76% to $0.220 yesterday following the announcement, and are trading unchanged today.

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Tags Scantechfinancial resultsASX:SCDmining

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