Infonic makes it out of the red

Software supplier returns to profit after losses last year

Infonic has turned document management into a profitable business

Software provider Infonic has announced that the company has gone into the black after reporting a £3m loss in the same half last year.

The supplier reported an operating profit of £0.3m for the first half of this financial year, after seeing a revenue growth of 125.9 per cent.

The growth in profits has come from adopting an improved business model, said chairman of Infonic, Robert Lowe.

"The team have transformed a research and development business into a profitable, sales and marketing-led global software corporation," he said.

The company also announced that it has recently been awarded contracts with the US Navy and Konica Minolta which are expected to generate licence and maintenance revenues of more than £8.1m ($16.2m).