Techniche (ASX:TCN) profit slumps 69% in FY10

Techniche (ASX:TCN) profit slumps 69% in FY10

Technology development and commercialisation company Techniche (ASX:TCN) has reported a 69% slump in FY10 profit on costs related to its acquisition of Urgent Technology.

The company reported a net profit of $217,500, on 3% lower revenue of $7.1 million.

Costs associated with the £3.1 million ($5.4 million) of Urgent Technology, and the

But the acquisition is paying off - Urgent contributed to just over half of Techniche's trading profit for the financial year, from only one month of profit contributions.

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Tags Mergers and acquisitionsfinancial resultsUrgent TechnologyTechnicheASX:TCN

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