Fronde mulls capital raising for Australian push as FY profit more than doubles

Thu, 23 May 2013

May 23 (BusinessDesk) - Fronde Systems Group, a Wellington-based software and cloud-based services developer, is considering an equity raising to fund a bigger push into Australia after more than doubling annual profit. Earnings jumped to $2.7 million in the year ended March 31 from $1.1 million a year earlier, the company said in a statement on the Unlisted platform. Sales climbed 26 percent to $59.9 million. Fronde has kept its shares available for trading on Unlisted since 2006 though it seldom trades on market, with the last recorded tra...

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