Catalist-listed Communication Design International announced today net profit attributable to shareholders of $1 million for the year ended 30 June 2010 (FY2010), reversing a loss of $3.8 million in FY2009, after it wound up a non-performing unit, cut costs and sharpened its business focus.

The international marketing and communications specialist said the strong turnaround in full year performance was achieved despite a 10.4% fall in FY2010 revenue to $30.7 million mainly due to a major customer discontinuing orders and the absence of new sales from UK-based Above Consultancy which it began winding up in June 2009.

As part of a major review since the global financial crisis, Singapore-headquartered CDI began liquidating Above in FY2009, a unit which had incurred losses in the United Kingdom and the Middle East. It also reduced headcount and slashed distribution costs, helping the group return to profitability from the period ended 31 December 2009 (1H2010).

Since FY2009 the group has redirected resources to develop its core business – Outsourced Marketing Services, which involve Retail Roll-out, Exhibition Services, Event Management and Interior Design.

It stepped up activities of Clements and Street (C&S), its 100%-held UK-based exhibition stand contracting services and interior design and fit-out services provider which contributed revenue of $9.5 million in FY2010.

FY2010 cost of sales decreased 8.0% to $21.8 million from $23.7 million in FY2009 in line with the group’s 10.4% decrease in top-line.