While the 2009 calendar year was challenging due to the global financial crisis, the mining technology services company has noted a definite improvement in the last quarter, managing director Tony Kinnane said.

“Runge’s operating revenues were adversely affected by constrained spending by mining companies worldwide,” he said. “However, there is growing positive sentiment within the industry as evidenced by increased demand for consulting work since July 2009.

“While trading conditions have been difficult, Runge has focused on executing its long-term strategy to position the company for growth as markets improve.”

Operating revenue for the half was down to $37.6 million compared with $43.7 million a year earlier.

Kinnane said Runge’s software sales pipeline of $26.5 million reflected the deferral of expenditure by mining organisations in calendar 2009. The re-emergence of feasibility studies and due diligence work was evidence that sentiment in the industry was beginning to change.

“Our business model has allowed us to respond to the changing customer requirements and together with retention of our staff, means we are well placed to capitalise on the improving market conditions,” he said.

Runge reaffirmed its previous FY10 guidance of net profit after tax in the range of $5.5-10 million.

Runge was trading down 6.02% mid-morning today at 78c.