Revenue growth delivers Orbital slim profit

27/02/2013 - 15:01

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Balcatta-based engine technology group Orbital Corporation says it is on target to finish the year in the black after lodging a slim net profit for the six months to December 31.

Orbital today announced a net profit of $147,000 for the half-year, up from $103,000 in the previous corresponding period.

Revenue came in at $12.8 million, similar to the result in the six months to December 31, 2011.

Orbital chief executive Terry Stinson said it was pleasing to see significant revenue growth in the company's systems sales division, which contributed $11.7 million in revenue, up from $7 million in the previous half-year.

“The plan is that the systems sales business stream will augment Orbital's traditional engineering consulting services revenue stream,” Mr Stinson said in a statement.

“Orbital will continue to maintain a strong core of technical capability and over time the primary focus of these resources will be focused on the development of new products like our unmanned aerial vehicle systems.”

Mr Stinson said the company expected little growth in its alternative fuels business, with subdued activity in the LPG after-market and Ford production.

The company's second half, however, will be boosted by significant unmanned aerial vehicle contract expected to take the division's revenue over $10 million.

At close of trade today, Orbital shares were steady at 33 cents.  

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