Manaccom looks to brighter 2010

ASX-listed software publisher and distributor, Manaccom (ASX: MNL), is confident it can surpass its robust results for the 2009 financial year in the next 12 months.

In the full-year to June 30, the company reported a 55 per cent increase in revenue to $59 million, along with net profits of $2.96 million (up 8 per cent year-on-year).

Of this, the software publishing and distribution business contributed $16.15 million revenue and a segment (pre-tax) result of $1.8 million.

The software division results included revenue from the newer enterprise software maintenance division, Star System Solutions, which Manaccom acquired for $3.45 million in November last year. Manaccom also runs an online lotteries division.

According to its financial statement, a three-year deal with McAfee struck in May, along with a new distribution agreement with MYOB in July, will help the software business unit achieve solid results in the coming year.

“We made a long-term strategic decision to run with McAfee products and see the future of that as extremely buoyant,” Manaccom managing director, Ian Mackay, said. “Windows 7 will give us a fillip in October, and the 50 per cent investment allowance [from the Federal Government] is helping. Even though it’s only for hardware, hardware sells software.

“We’ve also got new products coming out and we’ve added MYOB to the stable, so we’re building up for that now.”

Mackay said Manaccom had relocated to a new warehouse in July, which is four times larger than its previous location.

“We are gearing up for significantly greater business,” he said.

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