The improvement in net profit (excluding one off legal costs) from $349,000 to $780,000 is a welcome sign for the future results of COO.
Annualised, the net profit of COO is now $1,560,000.
The BOD is to be commended for their efforts to reduce the cost base, which will flow through to the bottom line.
Further traction of the improved software should result in improved sales.
The appointment of a new CEO should now be a priority to ensure that the momentum continues.
Ann: Results Release and Investor Presentation, page-2
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