After the successful acquisition of rivals Bourke Johnston Systems (BJS) in July, hospital systems provider, Working Systems Solutions has released the financial results it has garnered during its first six months on the ASX.
The company, which listed in January this year, came in 14 per cent above its prospectus forecast for the five month period to 30 June, 2000. According to company sources sales revenues for the financial period were $2.132 million.
Earnings before interest, tax and depreciation (EBITDA) were $512,000 which was 22 per cent higher than the prospectus forecast.
The operating profit after tax for the period was $243,000, compared with the prospectus forecast of $131,000. This represents an 85 per cent better than forecast result. Net cash inflow from operating activities was $830,000 with cash holdings at 30 June, 2000 being $7.15 million.
Commenting on the results John Wreford chief executive officer indicated that the company would be entering a "period of sustained expansion".