Thirdforce confident of moving towards profitability

ISEQ listed E-learning company Thirdforce said today they expect to move closer to profitability this year following its €15m acquisition of Electric Paper in March 2003.

"We will continue to see improved financial performance in this coming year, as the profitable Electric Paper business begins to have a stronger impact on the groups' finances," chief executive Brendan O'Sullivan told shareholders at the company's AGM today.

Thirdforce, formerly called Rapid Technology, is the owner of the European Computer Driving Licence (ECDL).

The company expects turnover to grow this year on sales of the International edition of the ECDL, in China and the US.

In the 12 months to June 2003, the company said turnover rose 19% to €3.98m, with Electric Paper adding €2.23m for the last three months of the year.