Jade Software back in the black

Jade Software is back in the black, reaching its first significant turnaround milestone within two years of Rod Carr taking command at the Christchurch firm.

The company has reported a net profit of $1.02 million for the first six months of 2005, improving revenue by 9 per cent and cutting expenses by 8 per cent compared with the same period in 2004 when it reported a $2.42 million loss.

Carr said the interim results showed Jade had made "significant progress" towards achieving sustainable profitability and that it was now generating positive cashflow from operations, investing and financing activities.