Corum profit dives
February 19, 2014
Listed pharmacy software
provider Corum Group this morning
reported a 36.7% reduction in its
half year operating profit after
tax, with the figure of $1.238m
recorded on a 7.5% revenue decline
to $10.049 million.
The company’s directors said
the result was adversely affected
by “reduced funding from the
Federal Government for regulatory
compliance related software
projects,” as well as a decline
in sales of new software and
hardware.
The Corum Health Services
division, which provides “point of
sale and pharmaceutical dispensing
software, support services and
computer hardware to the
Australian pharmacy industry,”
achieved sales revenues of $7.015
million during the year, a decline
of $6.3%, while the profit from this
segment was $1.4 million, down
$419,000.
The other part of the business,
which provides transactional
processing for electronic bill
payments and funds transfer to
the real estate industry, achieved a
segment profit of $1.327 million on
sales revenues of $2.5 million.
Other activities during the period
included a court case involving
claims and counter-claims against
Winmark Investment Group, with
judgement delivered in Dec and
claims by both Corum and Winmark
dismissed.
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