Kalamazooo Computer Group Plc, the UK-based supplier of software to automobile distributors, has finally clawed its way back into the black after several miserable years of under performing the market.
In the six months to September 30, it made a net profit of 551,000 pounds ($892,620), up from a loss of 715,000 pounds ($1.1m) on revenue up 2.3% at 32.7m pounds ($52.9m). Chairman Bob Jordan says that the outcome for the current financial year is expected to reflect a continuing improvement in operating performance established in the first half.
However, Kalamazoo, which axed 130 staff in a restructuring that cost the company 1.5m pounds ($2.4m) earlier this year (CI No 3,623) plans further action to cut the company’s cost base. Jordan says that associated redundancy costs will be reflected in results for the second half.
