QMASTOR 1H profit climbs 436%

QMASTOR 1H profit climbs 436%

Industrial software and services provider QMASTOR (ASX:QML) said its 1H profit soared 436% on the back of some significant new contract wins.

The company announced a profit of $444,300, from 59% higher revenue of $5.6 million. Ebitda grew 1104% to $1.1 million.

QML shares on the ASX soared 10.5% during Wednesday's trading to $0.210 as a result of the news.

QMASTOR managing director Trent Bagnall said the company's performance was “solid” during the half.

“The result reflects a recovery from previous GFC-affected revenues, and the international growth strategy adopted by the board in 2010,” he said.

Major wins during the quarter including the signing of a large deal (ASX:QML) with South African coal producer Exxaro Resources, and a $5 million contract with Australia's Hunter Valley Coal Chain Co-ordinator.

The company is now expecting full-year revenue of $13 million to $14 million, with ebitda in the range of $3 million.

QMASTOR aims to generate 50% of company revenues from international sales by the end of FY12, and said it is making good progress towards achieving this goal.

It is targeting $20 million worth of organic growth in the 2012 financial year.

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Tags softwarefinancial resultsQMASTORASX:QMLTrent Bagnall

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