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Dorchester Pacific Sells EFTPOS Client Book
3 April 2006
News Release For immediate
release
Dorchester Pacific Sells EFTPOS Client
Book
Dorchester Pacific Limited (Dorchester) has sold
its EFTPOS client book to payment solutions company Cadmus
Technology Limited.
The sale, which represents $630,000 of receivables, is a small portion of Dorchester’s $440 million total assets.
“Strategically the EFTPOS client book doesn’t fit with our ongoing business plans to improve profits and maximize returns to shareholders,” Dorchester’s interim chief executive Mark Simpson said.
“We regularly review our operations to ensure they are performing to the desired levels of return, given their risk profile. The small nature of this EFTPOS finance book was deemed as uneconomic for us to continue with. It does however fit Cadmus’s core business,” he said.
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