Advantage result 'step towards recovery'

Technology company Advantage Group yesterday posted an after-tax surplus of $880,000 for the six months to December 31. The result, which compares with a profit of $386,000 in the same period a year earlier, was based on total operating revenues of $33.80 million, almost $10 million lower than the previous year's result, which was hit by a $1.9 million loss on Orion Ventures.

Managing director Tony Bradley said yesterday's result was the firm's first step towards recovery following the difficulties of last year. It was the company's first result since the group was restructured early last year.

Mr Bradley said the group's recovery was being led by domestic demand and the international market continued to be slow.

Advantage supplies transaction processing services and retail and business-to-business e-commerce services in New Zealand, Australia and other countries in the Southern Hemisphere.

Looking ahead, Mr Bradley said the outlook for the second half of the year was for the gradual recovery to continue.