RESEND: Fronde 1H profit falls 26% as company scales back operations to focus on margin

Wed, 21 Dec 2016

(Fixes repeat of NZ business technology products in 4th paragraph) By Sophie Boot Dec. 21 (BusinessDesk) - Fronde Systems Group, which provides IT services to businesses, posted a 26 percent decline in first-half profit and lower revenue as the company continued to cut costs and quit unprofitable business. Net profit fell to $574,000 in the six months ended Sept. 30, from $778,000 a year earlier, the Wellington-based company said in a statement. Sales dropped 16 percent to $26.5 million. "Our focus on profitability (driven by higher...

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