LongReach (ASX:LRG) profit shrinks 64% to $418k

ICT services provider LongReach Group (ASX:LRG) has reported a 63.8% decrease in FY10 profit to $418,500.

Revenue slumped 11.12 to $12.2 million, while operating profit fell 17.6% to $1 million. Foreign exchange gains were also significantly lower.

But expenses were cut 10.4% to $11.2 million.

LRG shares are today trading unchanged at $0.024.