Cadmus turns the corner

The company, which declared no dividend, posted a December half year profit of $102,000, compared to a loss of $894,000 in the previous corresponding period.

Total operating revenue doubled to $7.6 million ($3.5 million previously). Earnings before interest, tax, depreciation and amortisation (ebitda) was just over $1 million, a 155 percent increase on the previous ebitda of $414,000.

The company said that based on current forecasts, with losses carried forward, there was not expected to be a tax liability at year-end. It made an $18.2 million full year loss in the year ending June 30 last year.

Cadmus said it was well placed for the second half of the year with contracts worth over $5 million and further agreements pending. Shares in Cadmus closed up 0.04c to 7.4c.

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