Optima signals further growth on profit turnaround

Box-builder Optima plans to expand to Australia's west coast on the back of a profit turnaround for the half year to 31 December 2003.

Net profits after tax leaped to $1,319,000 for the first half of the 2003-04 financial year -- up from the previous six months' $1,353,000 loss.

Overall, the ASX-listed hardware vendor netted 18 percent more revenue, to $56,102,000, for the first half of this fiscal year.

Cornel Ung, MD at Optima, said that company strategy would continue to emphasise geographical expansion and targeting specific parts of the market for the rest of this year.

'Strategic acquisitions' -- possibly around system integration -- could be in the pipeline as part of that expansion, he hinted.

'We are also interested in working closer with service providers and software vendors to enable us to better service our customers,' Ung said.

Optima re-focused on its core computer and services businesses in the period, selling off its internet security operation.

The box-builder -- which tends to specialise in public sector contracts -- snared new deals with the Department of Employment, Education and Training in the Northern Territory, Victoria and with the Tasmanian government in the half year.

Notebook sales had also been growing well, the company said.

The Silverwater, Sydney-based firm was at the time of writing bidding on another $30 million education and government deal.

Ung indicated that results for the rest of the year -- as is traditionally the case -- were expected to improve further.

'I am pleased to see the results after consolidation of all subsidiaries into our business,' he said.

Maiden dividends for the company, listed as Optima ICM, were tipped to hit 0.5 cents a share.