Cadmus reaps rewards

Listed electronic payments technology company Cadmus says its revenue rose 60 per cent to $9.2 million in the six months to December 31.

Cadmus' net profit after tax for the period was $933,000 - up from $165,000 for the previous corresponding period. It was boosted by abnormal items of $721,000, after the sale of eftpos rental assets in December.

The company said cashflow from operating activities for the period was $734,000 compared with $38,000 recorded at the same time last year.

Last month the company said it had won a contract to supply 2500 eftpos terminals to Australia's Bendigo Bank.

It said in the second half it expects to announce further initiatives to consolidate revenue.

- NZPA