Sydney - Wednesday - December 14: (RWE Aust Business News) - Solco Ltd's (ASX:SOO) business is in good shape, the managing director said today. Duncan Stone said in an interview on corporatefile.com.au that the company was on track to record a maiden profit this financial year on target turnover of $18 million. "Last year we turned over $10 million and made $1 million loss," he said. "In the December 2005 half year we're on budget to turnover $9 million with a loss of around $0.5 million after expensing redundancy costs arising from business restructuring. "The cost savings arising from the restructure will not be reflected in results until the second half. "We've also got some highly profitable major international manufacturing license sales being installed in the second half, the completion of which will ensure Solco's maiden profit for the FY06 year as forecast."
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