Fronde has announced an $800,000 profit for the year ended March 31, on revenue of $34.2m, compared with a $1.8 million loss on revenue of $24.8 million last year.
A statement from the company announcing the results states: “The focus has been on a return to profitability through tight execution of the strategy, as well as revenue growth and improving the working capital position of the company.
“Management has focused on a number of business areas to drive performance. These were building an annuity revenue stream with Google’s Enterprise solutions in New Zealand and Australia, winning significant new recurring business, and the improving performance of the Auckland branch.”
Fronde also announced that it has a cash balance of $1.06 million and will pay a dividend to shareholders later this month.