IT company Fronde falls into the red with dip in government agency business

Fri, 12 Dec 2014

By Fiona Rotherham Dec. 12 (BusinessDesk) - Fronde, which provides IT services to businesses, has had to shed staff and cut other costs after dropping into the red with a much lower-than-expected first-half result due to decreased revenue from its Wellington consulting business. The Wellington-based company reported a net loss of $1.3 million in the six months ending Sept. 30, from a profit of $700,000 a year earlier, it said in a statement to the Unlisted market. That included a $187,000 unrealised, non-cash loss in foreign currency rela...

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