KAZ reports $4.4m half-year profit

KAZ reports $4.4m half-year profit

Listed IT outsourcing company KAZ Computer Services has reported a $4.4 million half-year profit for the six months ending 31 December 2000, almost doubling its profit growth in six months.

These profits were based on $44.3 million in revenues (a 46 per cent improvement on the corresponding period in 2000), and driven by a bag of new contracts and acquisitions.

The six-month period saw the winning of outsourcing contracts with Tenix, Blockbuster Video, Station 12, Norths, Arthur Anderson, Revenue Clearing House, Reserve Bank, David Jones and contract renewals with Brambles and AMP.

KAZ Computer Services also acquired IT services and software developer Fundi Software Group, whose contributions in the three months since the purchase were included in KAZ's figures.

In addition, KAZ Computer Services acquired Australian Administration Services from AMP Life for $75 million.

With new contracts from these acquisitions under the company's belt, it expects the six-month profit to be worth only 30 per cent of full-year profits it will post at the end of June.

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