KEY POINTS:
Christchurch technology company Jade Software today said operating earnings fell in the six months to June 30 from a year ago but revenue rose 36 per cent.
Earnings before interest tax, depreciation and amortisation (Ebitda) fell to $4.4 million in the six months to June 30 from $6.7m in the same period last year.
Ebitda from continuing operations rose 19 per cent compared to the same period last year.
Revenue from operations grew from $16.9m in the first half of last year to $23.1m in the six months to June 30. Total revenue, including one off gains in the comparable period in the prior year, rose 17 per cent.
The acquisitions of Empower Masterpay, an Australian human resources and payroll IT services company, and Methodware, a global supplier of governance, risk and compliance software, helped increase revenue.
During the six months the company carried out projects for Rio Tinto, Toll New Zealand, the Electricity Commission, and Department of Health and Families in Australia's Northern Territories and others.
The company has had to fight to restore profitability and is now focused on investment and growth.
"Our shareholders have left every cent in the business and have funded our growth and enabled our investment on research and development," said managing director Dr Rod Carr.
"We now employ over 340 people, two thirds of them in New Zealand. With 75 per cent of our shares held outside New Zealand, foreign investment in Jade has created stability, growth, investment and jobs."
Dr Carr said the company was working at capacity with a full order book till the end of the year.
- NZPA
