Eroad making inroads on return to growth

CEO Mark Heine said he was proud of the company’s revenue growth for the half year to September. (Image: NZME)

Fri, 25 Nov 2022

Eroad has posted $1 million in earnings before interest and tax (Ebit) for the half year to Sept 30, up from a $400,000 loss in the same period the previous year.Profit attributable to shareholders rose to $600,000 from a loss of $2.8m a year earlier. Revenue was up 78% to $85.4m from $48m, but operating expenses were up 81%, from $35.7m to $64.6m.The company said in a statement that it had begun a cost-cutting programme which would be reflected in the results for the second half of this financial year.Guidance for the full financial year,...

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