CPT Global revenue stagnant but profit improves

Stan Beer
Sunday, 11 September 2005 08:39

IT Industry - Listed Tech

IT consulting services provider, CPT Global (ASX:CGO) has promised a year of organic growth in 2006, after a relatively stagnant financial year ending 30 June 2005.

CPT's revenue for the 2005 financial year was $29 million, virtually unchanged from the previous year's $28.8 million. However, the bottom line performance showed significant improvement, with a 12% increase in net profit after tax. In its release to the market, CPT described 2005 as a year of consolidation in both its client base and consultant base globally. CPT makes much of its revenue through helping clients reduce their IT costs by getting more out of their existing IT systems. Therefore the company tends to do well when IT budgets are tight and cost reduction is mandated by management.

CGO shares were barely traded and closed down 1c to finish on 68c.