Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
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Renai LeMay
Thursday, 09 September 2010 11:15
Australian private equity firm Archer capital has swooped on payments technology group Keycorp, making a cash offer for the struggling company that its board has recommended shareholders accept.
Keycorp provides many different sorts of technology associated with payments — such as EFTPOS terminals, bank branch technologies and so on, and is well-known in the Australian market — being established in 1983, at which point it was making advanced secure keyboards.
However, the company’s fortunes have been up and down over the years. In 2008 Keycorp sold its smart card business, and earlier this year Keycorp confirmed its software had been behind outages suffered by both Bank of Queensland and Bankwest.
Keycorp’s recent financial results show the company brought in net profit after tax of $5.5 million over the past year, a figure down from $9.2 million the previous year. In addition, revenue was also down — from $52.1 million to $46.6 million.
The company’s management hailed the result — which despite the shrinkages it said was better than in previous years — as a consequence of its turnaround plan for the company.
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