Hyro comes close to 1H profit

Hyro comes close to 1H profit

Hyro Limited (ASX:HYO) narrowed its losses significantly to just $74,000 for the half-year ending in June.

The company, which provides services to support digital marketing, e-commerce and related activities, revealed it had made an operating profit of $840,000 during the period.

But Hyro, which had reported a net loss of $1.4 million in 1H10, lifted revenue only slightly to $13.3 million.

In its report for the half, Hyro said it had continued to invest in commercialising its Idaptive identity and access management product, and has appointed a general manager to lead these efforts.

The company ended the period with no core debt, and positive equity of close to $4.2 million.

In May, Hyro announced it had won a $4 million contract to provide customer experience and technical services with wagering and media company Agility Interactive.

HYO shares remained unmoved in Thursday's trading at $0.530.

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Tags financial resultshyrodigital mediadigital advertisingASX:HYO

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