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Website calculators now earning profits for GBST

GBST Holdings yesterday reported improving revenues, and a cash profit, for its "financial services" division that supplies financial calculators to banks in Australia and some offshore markets.Revenue for this division increased 37 per cent to $1.6 million in the December 2010 half. The EBITDA profit for this business was $325,000.Supplying financial calculators is a niche service activity, with GBST in competition with InfoChoice and Canstar.Profit for the GBST group fell 30 per cent to $862,000 due to increased investment in technology and remediation of the offering of one recently acquired offshore business.

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