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Manaccom software distribution nets $9 million

Manaccom software distribution nets $9 million

Revenue figure follows a loss in the first half of FY2010

Manaccom’s (ASX:MNL) distribution and software publishing division has reported revenue of $9 million for its 2010 financial year.

The company has had a difficult year after dropping Trend Micro as a partner and appointing Ingram Micro as its new distributor.

Manaccom now deals with competing security vendor, McAfee.

The change of vendor line-up was blamed for revenue loss in the first half of the financial year.

“A new agreement was signed in April 2010 and overheads were reduced to a more sustainable level, putting the division in a far stronger position for the year ahead,” Manaccom said in a statement.

It also bought out its founder, Ian Mackay, for $1 million in company funds and $1.5 in investor funds in June.

After being acquired by e-commerce provider, Jumbo Corporation, the distributor is now in charge of an online lotteries division.

Jumbo counts Tattersall’s and NSW Lotteries Corporation as key customers.

Over $15 million additional state government revenue was raised in 2010 from sales through ozlotteries.com.

“The technology and marketing assets already in the marketplace have delivered in excess of 50 per cent annual growth for the past few years providing further competitive advantages going forward,” the company said in a statement.


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