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Ideas forecasts up to 30% profit growth in 2010

Ideas forecasts up to 30% profit growth in 2010

IT intelligence company Ideas International (ASX:IDE) has revealed it is expecting a post-tax profit of between $1 million and $1.3 million in calendar 2010.

This represents growth of up to 30% compared to the company's profit in 2009, Ideas CEO Stephen Bowhill said.

“We are very pleased to be...maintaining growth over last year,” he said. “Despite the challenging market and the strengthening Australian dollar, revenues should be up by over 20% compared to 2009.”

The company is predicting between 6% and 48% lower profit for the second half of the calendar year, compared to $590,000 in the same period a year ago. Bowhill said these results were skewed by the remission of $238,000 in ATO interest charges in 2009.

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