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Software demand lifts Excel from red

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Excel Technology International Holdings recorded an attributable profit of HK$22.72 million in the year to December 31, representing a turnaround from a loss of HK$11.57 million a year earlier.

Turnover for the Growth Enterprise Market-listed Internet application provider was HK$155.52 million, up 58.58 per cent from 1999. Earnings per share was 2.65 HK cents.

The company attributed the increase in turnover to buoyant demand for its enterprise software products and custom development services.

These were the largest sources of income last year, accounting for about 49.86 per cent of turnover.

Executive vice-president Ip Kim-kuen said Excel was shifting its focus from consulting and system integration services, which were once major revenue sources.

'Consulting and system integration have never generated large margins for players in the software industry,' he said.

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