Oakton posts profits

Oakton posts profits

IT services provider Oakton Computing has posted revenues of $11.8 million for the 1999/2000 financial year, up 47 per cent on the previous year, and improved its net profit by 67 per cent, posting $4.1 million.

It has been a boom year for the services company, which included both a successful listing on the Australian Stock Exchange and the acquisition of two e-business consulting firms, Frontline Consulting and Charter Wilson and Associates.

Delivering the news to Oakton shareholders, chairman Steve Vizard pointed out that the company was one of only eight publicly listed technology stocks in Australia that was able to produce a positive cashflow for the first quarter of 2000/2001. The share price since the $16.25 million IPO has increased by 28 per cent, increasing Oakton's market capitalisation by $20.7 million to $94.7 million.

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