Serko generated a first-half profit as the online travel booking software developer boosted trading revenue 30 percent and reined in spending, and is stepping up plans to launch in new international markets.
The Auckland-based company reported a net profit of $1.1 million, or 1 cent per share, in the six months ended September 30, turning around a loss of $2.1 million, or 3 cents, a year earlier. Trading revenue climbed to $9.1 million from $7 million a year earlier, while operating costs dropped 12 percent to $8.5 million as the company clamped down on spending and cut staff numbers.
Serko has found favour with investors this year with its stock soaring 372 per cent to $1.37 as it raised earnings expectations and signed up new partners, most recently with ATPI Group to deploy the Kiwi firm's technology worldwide.
"It has been a gratifying six-month period," chair Simon Botherway said in a statement. "Serko is well on its way to recording its first full-year profit and we are now looking forward to making progress on the next phase of our growth plans, to expand our presence in the Northern Hemisphere markets."
Serko affirmed annual guidance for total operating revenue to be between $18 million and $19 million in the year ending March 31, 2018, and said operating expenditure will increase with its plans to expand the business in the Northern Hemisphere.