Crown-owned telecommunications network company Kordia made a $1.3 million profit in the six months to December, a turnaround from the $4.5 million loss in the same period a year earlier.
Kordia says it's ahead of its budget in revenues, profit and debt repayments. It has reduced debt by $4 million to $101 million.
Chief executive Geoff Hunt says the $167 million invested in the business over the last four years is starting to pay off.
He says the company has seen a substantial upturn in the sale of its new products recently, but companies are spending less and taking longer to make investment decisions.
