Mainboard-listed Pteris Global, the integrated airport logistics systems provider, reported a profit of $0.9 million for the first half of 2010. This is a turnaround as the group incurred a loss of $0.7 million in the same period last year. Revenue increased by $7.6 million (17%) to $51.8 million in the first half of 2010. During the same period last year, revenue generated was $44.2 million.

In the second quarter of 2010, the Middle Eastern region contributed 64% of the group’s revenue whereas in the first quarter of 2010, Americas contributed the highest at 43%. The group’s strategy to continue diversifying geographically has begun to show its results in minimising the fluctuations in revenue.

As at 30 June 2010, the group’s outstanding order book balance increased to $208 million as compared with $143 million as at 31 December 2009.

Total orders secured were $117 million in the first half of 2010. This is $76 million higher than the first half of 2009 where $41 million orders were secured. During the year, the group secured several major contracts. In the first quarter, the group secured the baggage handling systems (BHS) projects in Chennai International Airport (India) and Changsha Huanghua International Airport (China). In the second quarter, the group was awarded the Mumbai International Airport (India) – Terminal 2 and the Changi Airport (Singapore) projects.