Call centre services provider CCN Holdings` continuing operations incurred a smaller loss in the year to 30 April than in the previous year.
The continuing operations, mainly the outsourced contact centre division and head office, improved from a loss of R4.85 million to R0.66 million. Revenue was up from R6.73 million to R36.02 million.
The group`s discontinuing operations, which include NetFlorist, incurred a loss of R0.28 million, compared with a profit of R14.53 million previously. Revenue for these operations slipped from R23.08 million to R12.18 million.
Sundry income and net interest received helped the group to an overall net profit of R7.48 million, compared with a profit of R17.98 million the year before.
"It is anticipated that additional investment will be required in order to grow the market, build infrastructure and develop skills in the short to medium term, with benefits being realised over the longer term," says CEO Lawrence Brick.
"The balance sheet is sound, with no interest-bearing debt." He says a decrease in cash balances from R68 million to R60 million was mainly because of the repurchase of shares during the year.
CCN has announced previously that it is planning to terminate the listing of its share on the JSE.
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