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Card-free secure fuel payment systems provider Orpak posts third quarter net profits of $1.7m - up 26% on last year.
Revenue for the three months to the end of September was $12.9m - down from $19.7m in 2008. Net cash and cash equivalents totalled $25.7m
Revenue for the first nine months of the year was $43.7m (2008: $52.4m) while net profit increased 46% to $6.2m (2008: $4.2m).
Chief executive Hayim Kohen said: "We are pleased that this period has seen sustained momentum in net profit growth as we continue to deliver on our contracts and roll-out our products.
"Whilst the challenges of the economic conditions persist, demand for Orpak's products remains encouraging and we are focused on mitigating the negative impact of the market weakness, and so continuing the successes we have achieved to date."
Story provided by Business Financial Newswire
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