QMASTOR reports record profits for half year

Staff Writers
Monday, 02 February 2009 18:04

IT Industry - Market

A record half yearly profit increase of $1.07 million has been reported by Australian listed QMASTOR Limited (ASX:QML), a company providing bulk material software solutions to the global mining, port, power generation and bulk commodity industries.

The Board of QMASTOR said the $1.07 million profit for the half year to December 2008 was an increase of 187% on the corresponding period.

Revenue was $4.97 million, up 138% from the half achieved in 2007 and was close to the achievement for the whole of the 2008 year (98%).

Managing Director of QMASTOR, Trent Bagnall said strong growth in the bulk terminal port sector and the release of the company’s new Horizon Advanced Planning and Scheduling (APS) product were key contributors to strong revenue growth, record net profits and cash generation.

QMASTOR declared an interim dividend to shareholders of 1c per share and Trent Bagnall said the outlook showed the company was “on track to deliver on its full year guidance earnings of 3.25-4.0 cents per share.”

He said QMASTOR acknowledged the current commodity market conditions were putting its customers under serious cost pressures, with the company advised that a number of projects were likely to be delayed or put on hold as mining companies battled their capital management positions.
We expect, however, that this will have little to no impact on the 2009 earnings per share forecast."