Jade Software getting closer to profitability

Christchurch based Jade Software has reported a 24 percent rise in revenues for 2016, after reporting zero revenue growth in 2015. It cut net loss before tax to $0.6m after reporting a loss of $3.2m in 2015.

The company said the result demonstrated the benefits of focused execution including additional investment made in its logistics business, the renewal of longstanding partnerships and new customers.

When it announced its 2015 results in June 2016, managing director David Lindsay said: “This year [2016] with the support of the board, Jade invested in market development and capability across the globe. We continue to execute our long-term strategy, preparing for future growth and improved profitability in 2017.”

The year before, when it announced its 2014 results, then chair, Ruth Richardson, said: “Jade is starting to strike the right balance between short term profitability goals and the investment of time, capital, and talent in securing future growth and value in its focused markets.”

Commenting on the 2016 results this week, current chair, Sue Suckling, said, “The software industry is one of the most dynamic and fast-moving globally. Our culture, ability to be agile, and respond quickly to changing market and customer dynamics will contribute to our ongoing success. With a continued drive and emphasis on delivery, we expect continued growth and improved results in 2017,”

Suckling was appointed chair in 2016, succeeding Richardson who stepped down from in May 2016. 2016 also saw the appointment of Julia Raue as non-executive director.