Fronde returns to profit on pretax basis after last year's restructure

Tue, 31 May 2016

By Paul McBeth June 1 (BusinessDesk) - Fronde Systems Group, which provides IT services to businesses, returned to profit on a pretax basis after overhauling the business to cut costs in the face of falling revenue. The Wellington-based company reported a pretax profit of $1.4 million in the 12 months ended March 31, turning around a pretax loss of $3.4 million a year earlier, it said in a statement. Revenue fell 3.6 percent to $57.4 million as the IT company changed its mix of services to chase profitability, which it said helped lift s...

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