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Jade’s Half-Year Result Up

Published: Wed 19 Aug 2009 09:36 AM
Jade Software News Release
18 August 2009
Jade’s Half-Year Result Up, Focussing On 2010 Global Recovery
Jade Software today announced its interim result for the first half of 2009. Operating revenue grew 3.2 percent to $23.9 million and net profit before tax increased 29.8 percent, when compared with the same period in 2008.
Jade’s Chief Executive, Craig Richardson, said, “Despite a good performance this half year, Jade is not immune to the adverse global conditions and we expect that the result for the full year will be down on 2008. That said, the company is well positioned to weather the economic downturn and to take advantage of the recovery in 2010.”
Jade’s Chief Financial Officer, David Lindsay, said profit growth for this first half year was attributed largely to operational improvements and careful management of costs.
“In 2008, 20 percent of Jade’s revenue came from logistics and 25 percent from the financial services sector. With our European logistics customers reporting up to a 60 percent reduction in cargo movements and the unprecedented conditions in banking, finance and insurance, we are expecting this to be reflected in our year end result,” Mr Lindsay said.
Against the economic trend, Jade Software announced in June that Messina Line had selected Jade Master Terminal (JMT) to manage cargo movements at its terminal in Genoa, Italy. Terminal operators now recognise JMT as a genuine challenger to established products.
Mr Richardson indicated the company was pursuing strong leads in Europe and the Middle East as well as the Americas, and was actively testing a number of opportunities to bring innovation to the category.
In June and July, several leading independent research firms recognised Jade, and subsidiary Methodware, in their latest publications regarding governance, risk and compliance (GRC) technologies. Research firms are predicting growth of up to 15 percent in GRC technologies as markets recover. Methodware is well positioned to capitalise on this growth with plans to expand its US and UK product portfolio in late 2009.
The company is already realising benefits from its recently established Innovation Centre.
“Customers who have experienced our human-centred design process are excited by the ideas we generate and the fresh approach Jade brings to solving their hardest problems.
“Looking ahead, we are now focussed on accelerating Jade’s market execution capability and enhancing the company’s position as a leading global product innovator,” Mr Richardson said.
ENDS

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