6 Feb 2010

Jade wins Abu Dhabi port software contract

7:16 am on 6 February 2010

Software firm Jade Corporation has won a contract to supply an operating system for a new container terminal in the United Arab Emirates, however the company is still forecasting a reduced full-year profit.

The deal with port operator Gulftainer at Abu Dhabi's new container port, Ruwai, follows contracts to supply port operators in Genoa, Italy and Europe's biggest port, Gdansk in Poland.

The Christchurch-based firm has warned the global downturn will hurt profits this year due to its exposure to the cargo and financial sectors.

Chief executive Craig Richardson says the latest deal will make a modest contribution to earnings.

He says Ruwai small port but has a significant operator.

Mr Richardson says the freight-moving market should see a jump in volumes later this year or next.