Jade cuts loss to $974k from $3.5m

David Lindsay.
David Lindsay.
Software developer Jade, which has operations in Dunedin, made significant financial progress in the year ended December, chairwoman Ruth Richardson says.

The company has reported a loss from continuing operations of $974,000 compared with a loss of $3.5 million in the previous corresponding period.

Annual revenue from continuing operations grew 13% to $30 million compared with revenue of $26.5 million in the pcp.

Jade Logistics secured 29 new contracts, driving the 56% growth in revenue, Ms Richardson said.

''Jade is starting to strike the right balance between short-term profitability goals and the investment of time, capital and talent in securing growth and value in its focused markets.

''It is important the business capitalises on the momentum generated in 2014 and matches the ability to build value for shareholders with a lift in trading results.''

Jade managing director David Lindsay said the focus on revenue and creating value had been successful across Jade's three lines of business.

Jade continued to invest in new markets, including the Middle East and the United States, enabling the rapid implementation of existing contracts and the addition of new opportunities.

In Australia and New Zealand, the company narrowed the focus of its solutions teams to address the immediate opportunities for digital business innovation in the financial services and insurance sectors and power utilities sector, he said.

Jade's terminal operating system, Master Terminal, experienced a record year and was one step closer to becoming the No 1 product for mixed cargo terminals globally.

Jade Logistics ended the year with secured contracts at 29 new marine and island terminals in Central and North America, Africa, the Middle East and Western Europe.

Total terminals licensed now exceeded 70 worldwide, making Jade one of the fastest-growing suppliers of terminal operating systems globally, Mr Lindsay said.

Becoming a digital business was no longer just a trend or an option.

As consumers expected to transact and engage online anywhere, anytime and on any device, new digital business models were imperative to the longevity and success of business.

To meet the demand, Jade combined its digital and enterprise expertise to create a compelling digital capability, he said.

''This resonated with the company's target markets. Revenue from new customers increased by 18%, with a number of blue chip brands in the financial services and utilities sector added to our stable.''

This year, Jade wanted to build on its revenue growth from 2014 through the opening of new offices in Jakarta and Rotterdam to expand its global footprint.

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