ORBITAL Engine Corporation has announced a $3.4 million after tax profit for 2003-04, a $5.3 million improvement on the previous year.
The profit includes an increase in services income of 14 per cent and a $2.8 million improvement in engineering contribution, and a positive operating cash flow of $0.8 million.
The company has announced that it has reduced its overheads by another 34 per cent to $6.8 million.
Orbital’s Synerject made a record $2.7 million contribution to the overall result, a 100 per cent increase on last year.
The company’s share purchase plan generated $3.3 million in July and Orbital also added a Bajaj, a new licencee in the auto rickshaw market in India.
