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Utilities and airport software firm Gentrack's first half net profit is down 29 percent (file photo).
Utilities and airport software firm Gentrack's first half net profit is down 29 percent, though growth in recurring revenue was expected to continue to grow.
The net profit for the six months to March was $5.1 million, with revenue down 1.7 percent to $110.1m, with two unexpected delays in sales of utilities services contributing to the drop.
However, Gentrack chief executive Gary Miles said recurring revenue rose nearly 17 percent to $85.3m, which was expected to continue to grow as AI changed the dynamics of software integration.
