Connexionz posts profit, doubles sales

Bus electronic manufacturer Connexionz has posted a net profit of $116,199 for the year ended March, up from a loss of $871,363 the previous year.

Earnings per share were 68c, up from a loss per share of 5.49c the year before.

The company, which produces real time passenger information systems (RTPI) for public transport, more than doubled it sales over the period, from $1.228m the previous March year to $2.903m.

Chairman Craig Boyce said, sales were strong in the first half of the year but fell off in the second half.

The Christchurch-based firm has just completed an expansion of the Arlington RTPI system in Washington DC, and is currently rolling out new systems in Oregon and California.

The company's BusFinder system is already in use for fleets in Christchurch, Auckland and Sydney. BusFinder provides real time information about bus arrival times at bus stops, in bus terminals and to cellphone and website users

Shares in Connexionz last traded yesterday at 42c, having ranged between 38c and 66c over the past 12 months.

- NZPA