Tuesday, 23 August 2005 05:01

Reckon shares drop on reduced profit result

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Shares in accounting software distributor Reckon (ASX:RKN) dropped slightly for the half-year to 30 June 2005 on the announcement of a 14% reduction in net  profit because of a large tax bill for 2005.

Reckon recorded healthy growth in revenue of 18% to $22.2 million and EBITDA of 30% to $5.5 million for the half year to 30 June 2005 over the corresponding period in 2004. However, net profit dropped to $3.4 million from $4 million for the same period in 2004.

RKN shares closed down 3c to finish on 83c in light trading.


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Stan Beer

 

Stan Beer co-founded iTWire in 2005. With 30 plus years of experience working in IT and Australian technology media, Beer has published articles in most of the IT publications that have mattered, including the AFR, The Australian, SMH, The Age, as well as a multitude of trade publications.

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