By PETER GRIFFIN
Technology company Advantage Group slipped into the red in the six months to December 31 as demand for its electronic payments software was hit by the worldwide downturn.
The firm reported a $177,000 after-tax loss for the period, compared with a $880,000 profit for the same period in 2001.
Operating revenue fell to $25.67 million from $33.79 million a year earlier.
Advantage said that unless it won contracts for its new-generation retail oil industry software in the second half, it would have to write down the current value of assets of $6.5 million. But it had won an $8 million contract to provide electronic payment services and software to Malaysian oil company Petronas Dagangan Berhad.
* Motor manufacturer Wellington Drive Technologies reported a loss of $1.3 million for the six months to December 31, a 1.4 per cent bigger loss than in the previous corresponding period. Revenue almost doubled to $537,000.
Managing director Ross Green said the market was beginning to accept the company's motor styles and this was becoming visible in its results.
* Expanding sales in Australia and the wider Asia-Pacific have helped Eftpos Machine manufacturer Cadmus Technology to make a December-half profit.
The company, which declared no dividend, posted an interim profit of $102,000, compared with a loss of $894,000 in the previous period.
Operating revenue doubled to $7.6 million from $3.5 million.
* Laundry services company Taylors Group reported a profit of $1.9 million for the six months to December, up from $1.8 million in the previous December half.
Revenue rose 7 per cent to $28.7 million. An interim dividend of 4.5c a share, up from 4c last year, will be paid on March 28.
Chairman Brian Blythe said strong demand from customers in the tourism industry "provided the company with a number of opportunities".
Advantage sees red as slump hits sales
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