Mincom posts record profit

AUSTRALIAN software developer and provider Mincom has almost doubled its pre-tax profit for 2006/07, with strong growth across key regions of Australia, North America, Latin America, Eurasia and South Africa.

Angie Tomlinson

Mincom posted a record full-year profit of $22.2 million before tax and non-recurring costs including acquisition-related transaction costs.

Revenues were up 15.8% on the previous year to $230.6 million.

During the year Mincom secured major new mining-related business, including new contracts with Rio Tinto Coal in Australia and Newmont Mining and Xstrata Nickel in North America.

In May 2007 the company was fully acquired by EAM Software Finance - a subsidiary of technology-focused private equity firm Francisco Partners.