Endace FY pretax profit soars; names Mike Riley CEO |
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Published
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Tue, 22 May 2007 08:38
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LONDON (Thomson Financial) - Endace Ltd posted a 153 pct increase in its full-year pretax profit as sales rose 55 pct, and named Mike Riley chief executive officer effective July 1.Endace said it is very positive about its prospects in the coming year and that it needs to increase its investment within the business.The AIM-listed network monitoring services company reported a pretax profit of 3.9 mln usd for the year ended March 31 compared with 1.5 mln usd a year ago, as revenue increased to 17.0 mln usd on significant growth in North America with strong sales in the telco and government markets, versus 11.0 mln usd a year earlier.Endace said current chief executive Selwyn Pellett will become non-executive chairman, current non-executive chairman John Scott becomes non-executive deputy chairman. Riley is vice president of the Worldwide Marketing division.TFN.newsdesk@thomson.comash/jro/lamCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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