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Infomedia (ASX:IFM) lifts profit despite revenue slump

Infomedia (ASX:IFM) lifts profit despite revenue slump

Electronic parts catalogue developer Infomedia (ASX:IFM) has raised its FY10 profit 8% despite a 17% decline in sales revenue.

Revenue fell to $45.3 million, while profit was $11.3 million and ebitda grew 15% to $18.1 million.

The company said the main reasons for the revenue decline were the stronger Australian dollar, and the cessation of revenue from an expired major contract.

The results of a hedging program and a reduction in expenses contributed to the profit growth.

IFM shares are today trading 4.2% higher at $0.250.

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