Managed services, banking solutions and software firm Fronde has announced a $1 million net profit for the half year to September 30. The result is in marked contrast to the $3.1 million loss for the same half year period last year, and exceeds the $700,000 profit achieved in the half year to March 31, 2008.
Chief executive Ian Clarke says the increase in cash has been invested back into the businesses, and debt has been reduced from $3.3million to $0.5 million. Clarke says Fronde plans to reduce debt even further.
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