CPT Global optimistic of 2H recovery

IT management consulting company CPT Global (ASX:CGO) has expressed optimism about its outlook for 2H10, but warned that trading conditions are likely to remain challenging in Australia.

In a presentation to investors, CPT Global said its 1H earnings were impacted by the global economic downturn, which has left Australia unable to fully utilize its labour force.

The company swung to an $856,000 net loss in 1H – a 182% year-on-year decline – while revenue slumped 13.2% to $18.7 million.

CPT Global earns around 74% of its revenue from Australia. The remainder comes from Europe (16% in 1H10) and the US.