Iss Group Limited (asx:iss) Reports Improvement In Half Year Results

ISS Group Limited. ACN: 109 443 852
Suite 1, 40 Hasler Road, Osborne Park, Western Australia 6017
T +61 8 9241 0300 F +61 8 9242 8121
www.issgroup.com.au

ISS GROUP REPORTS IMPROVEMENT IN HALF YEAR RESULTS

Software Solutions Company, ISS Group Limited (ASX: ISS) is pleased to report on the Company's half year performance to 31 December 2009. This Half Year result follows a number of recent positive announcements, including a five year enterprise licence and maintenance agreement with Woodside Energy (ASX: WPL); the nation's largest publicly-traded oil and gas exploration and production company. ISS also recently announced a management reshuffle in an effort to support and maintain growth after five years of continued expansion. This saw the appointment of Tony Hanavan, previously head of the Australian division of ISS group for over two years, to the position of CEO, with Shane Atwell remaining as Managing Director.

In commenting on the improvement in the half yearly results, Shane Atwell, Managing Director of ISS Group said,

"ISS Group has delivered an increase in revenue and a significant increase in profit. Revenue increased 0.4 per cent to $11.23 million and net profit after tax increased to $3.9 million, up 234 per cent. The Company continues to
maintain an excellent cash and debtors position of approximately $10 million, with net working capital of $9.3 million. The reported profit after tax for the period was $3.9 million, reflecting an improvement over the previously released management accounts, which estimated a profit of $3.7 million."

"The results reflect a significant revenue contribution from ISS Group's Asian operations, which has capitalised on several large contracts during the period. ISS Group's Australian operations have also performed beyond the Company's initial expectations with a significant increase in revenue and profit. Other contracts include the BabelFish licence, which was pre-purchased by Schlumberger, which will increase annually for the remaining three years of the agreement."

"These results highlight the success of the Company's focus, which will be further cemented by significant orders recently received from Newcrest Mining in Australia and Cairn Energy, in South East Asia. ISS also expects to announce a number of further licence sales via Schlumberger and continues to develop its software solutions for other industries, including manufacturing and power."

"The recently announced Woodside agreement will also contribute to the Company's growth and will have a positive impact on the revenue of ISS going forward."

If you would like to interview Shane Atwell, contact
Rod North,
Bourse Communications,
(03) 9510 8309
or 0408 670 706.

For further information please visit www.issgroup.com.au

SOURCE: ISS Group Limited (ASX:ISS)