Cadmus cash positive

By Phil Boeyen, ShareChat Business News Editor

Friday 16th March 2001

Cadmus Technology has posted a half-year operating profit of $405,000 although amortisation costs have pushed its bottom-line into the red.

For the seven months ended December the recently-listed technology company had sales revenue of $3.4 million, and made a pre-tax loss of $378,000.

The company has forecast a full-year operating profit of $1.2 million with a deficit of $1.05 million after deprecation, amortisation and asset write down.

MD, Ian Bailey says the company had net positive operating cashflow for the period of $379,000.

"This result effectively records the seven months of activity pre and post listing. It shows positive cash flows and a result in line with internal budgets.

"Over the past six months the business has acquired strategic holdings, entered joint ventures and transformed from a New Zealand-based Eftpos terminal distributor into a payment solutions and data management services provider."

Mr Bailey says highlights since balance date include acquiring a 4.55% strategic holding in Australian company Insight Technologies, and an estimated $2 million contract to provide payment terminals for Bartercard in New Zealand.

He says the company is planning to issue quarterly reports to the NZSE.

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