Fronde Returns To Profit And Has A New Chief Exec

Media release

Fronde Returns To Profit And Has A New Chief Executive

The Board of Fronde Systems Group Ltd today announced a new chief executive appointment and that its unaudited second half year earnings result to March 31 is a profit of over $700,000.

“The Board is pleased to announce that Ian Clarke is the new chief executive. Ian has been acting chief executive over recent months, and has been with Fronde for the past nine years in various roles including CFO and General Manager South,” said Mr Philip Shewell, Chairman of Directors.

“We considered a number of candidates and are pleased that we have such a fine candidate from within the management team. On behalf of shareholders, the board offers a huge vote of thanks to Ian and the management team for their success in correcting a number of the problems we experienced last year, and looks forward to Ian’s leadership.

“The Board and management team have been particularly focused on recovering our position after the poor first six months trading last year and the achieved profit is very commendable in the circumstances.

“The management team restructured the organisation, reduced overheads, and focused on our strong and loyal client base. It is a credit to our staff and their relationships with our clients that we were able to quickly recover,” he said.

The Board is anticipating continued profitability for the 2008–09 year following the changes made and reflected in the profit of the second six months.

“The company’s immediate priority will be on continuing to improve profitability”, concluded the Chairman, Mr Philip Shewell.

ENDS

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