SmartPay (NZX:SPY) has today announced its first ever profit due to improvements in business operations, product lines and sales margins.  The company states that the profit achieved excludes its recent acquisition of ProvencoCadmus, with management expecting profits to strengthen with the addition of the ProvencoCadmus Australasian payments business.

See announcement here

Disclosure: NATCOM is a significant shareholder in SmartPay.