Serko first-half profit drops 16% as R&D, expansion costs mount

Mon, 19 Nov 2018

By Paul McBeth Nov. 20 (BusinessDesk) - Serko's first-half profit fell 16 percent as the travel booking software developer ramped up spending on research and development and a launch into new Northern Hemisphere markets. Net profit fell to $920,000 in the six months ended Sept. 30 from $1.2 million a year earlier. Serko achieved profitability in the March 2018 year and stayed in the black as first-half revenue climbed 23 percent to $11.8 million. Operating costs were up 25 percent at $10.7 million as Serko hired more staff as its Zeno...

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