LISTED pharmacy software specialist Corum Group Limited has recorded a $251,000 net profit after tax for the year to 30 Jun, a significant turnaround on last year's $5.9 million full year loss which included a significant non-cash goodwill impairment.
Total revenue for the year was down $2.2 million (14.8%) to a total of $12.6 million, with sales particularly impacted by "several pharmacy groups implementing prior decisions to change software platforms".
The company's chairman, Bill Paterson, said in FY19 the company would focus on the marketing of Corum Clear Dispense and other upgraded software products.
He said ongoing automation and productivity programs continued to positively impact the operating cost base of the business, while enhancements to the Corum product had also raised customer satisfaction.
Cross-selling of peripheral products to existing customers rose strongly in the second half of the financial year, he added.
Paterson also noted that Corum was "very active in evaluating merger, acquisition and partnering opportunities during the year".
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