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Solnet Solutions Achieves Profitability Objectives

Solnet Solutions Achieves Profitability Objectives

Just six months after launching, IT solutions company SolNet Solutions is trading profitably.

Established in November 2003, SolNet Solutions acquired the professional services, software development and support service capability of SolNet Ltd. SolNet Solutions offers vendor-independent business solutions, and includes amongst its clients Accident Compensation Corporation, New Zealand Qualifications Authority, New Zealand Guardian Trust, Livestock Improvement Corporation, Telecom, Tourism New Zealand, National Library, Air New Zealand and Auckland University’s UniServices.

Mark Botherway, Managing Director of SolNet Solutions, says the board is delighted with the company’s performance. “Establishment costs for an operation such as ours were always going to be high and there have been a number of potential distractions. However, I am pleased with the performance of our staff and the support of our customers.”

“We remain on target to achieve our original financial forecast for the first year of operation, which will see us generating an annual profit,” Botherway says. The company anticipates achieving revenues for the calendar year in the order of $15 to $20 million.

SolNet Solutions is experiencing significant demand from established clients and has signed a number of new customers. It has also established or strengthened partnerships with leading software suppliers such as IBM, Sybase, Actuate, and Checkpoint.

“All indications are that the demand for our offerings is further strengthening and I am enthusiastic about our performance in the foreseeable future. Our vendor independent status has been well received by the market and our 115 strong team is one of the most experienced and knowledgeable in the country,” Botherway says.

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