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Earnings before interest, tax, depreciation and amortisation (EBITDA) was $1.12 million, a 1104% increase over the corresponding period.
Net profit after tax was $444,300 for the half, compared to $82,900 in 2009. The result was slightly above the previous AGM forecast.
The company said the result reflected a recovery from previous global financial crisis-affected revenues and the international growth strategy adopted by the board in 2010.
“Qmastor’s revenues strongly improved in the second quarter of the financial year, all regional offices performed in line with the board’s expectations. Our South African office performed particularly well on the back of the recent Exxaro contract win,” Qmastor managing director Trent Bagnall said today.
Late in the half Qmastor acquired Algosys, a Canadian software and services company located in Canada that specialises in metallurgical accounting software.
Looking ahead, Qmastor expects a number of new sales in the second half, which will produce full-year revenues of some $13-14 million.
This result would equate to a full year 2011 EBITDA in the order of $3 million for 2011.
The board has declared an interim dividend of 0.25c per share.
