Crealogix sees net profit slip

The e-business service provider, Crealogix, has seen its first quarter net profit drop to SFr340,000 ($192,000) against SFr1.86 million for the same period last year.

The decline in net profit came despite a rise in sales. Turnover was up 34 per cent at SFr6.54 million.

Crealogix said net profit was hit by the cost of September’s flotation on the Swiss stock exchange’s New Market.

The company said it would now redouble its efforts to win new business and said this would involve more cooperation with partner companies.

Shares in Crealogix have fallen more than 40 per cent since its initial public offering in September. The company says this reflects uncertainties on international technology markets.

swissinfo with agencies