Corum Group has “turned the corner”
August 18, 2011
PHARMACY software supplier
Corum Group Limited has today
reported a record $1.751 million
profit for the year to 30 Jun, with
directors saying shareholders may
now expect profits into the future.
The figure includes a whopping
$812,000 settlement paid to the
company’s former Executive
Director Michael Rowley over an
employment dispute.
The travails of the past few years
have also left Corum with a court
case against Westpac, imposes many
restrictions on how the company
can operate, the board said.
Total sales for the year amounted
to $21.04 million, down $680,000
on the previous year reflecting the
removal of the govt’s accelerated
depreciation initiative.
Revenue from the Corum Health
Services pharmacy software
division was $14.2m, with a net
profit of just $7000 - significantly
down on last year’s $1.4m profit
but included the $800k payout and
no capitalisation of development
costs which amounted to almost
$700,000 the previous year.
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