Finzsoft annual profit slumps 93% as Asian opportunities take longer than expected

Mon, 30 May 2016

By Paul McBeth May 31 (BusinessDesk) - Finzsoft Solutions, the financial service software developer majority owned by Singapore-listed Silverlake Axis Group, posted a 93 percent slump in profit as it took longer than expected to win opportunities in Asia, while ramping up spending on sales and marketing. Net profit fell to $204,000, or 2.34 cents per share, in the 12 months ended March 31, from $2.7 million, or 31.94 cents, a year earlier, the Auckland-based company said in a statement. In March, the software developer warned profit woul...

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