16 Aug 2012

Diligent profit soars

9:03 am on 16 August 2012

Digital board book maker Diligent's half year profit has quadrupled following the company's continued expansion into markets throughout the world.

The company's net profit after tax for the six months to June rose to $US3,357,813 - an increase of 308% compared to the same period last year.

Diligent's software helps company boards keep track of their papers online, and it generates its income from annual subscriptions for the software.

The company serves 2049 boards across the US, Europe, the Middle East, Africa and the Asia Pacific including 224 firms on the US Fortune 1000 list.

Diligent chairman David Liptak says the company's product is gaining acceptance around the globe.

Mr Liptak says the company increased its investment in its research and development operations based in Christchurch by halfover the past year, to $579,338.