Langley-based IPlayco Corp. Ltd. (TSX-V:IPC) more than doubled its annual profit for the year ending September 30, 2007.
The company recorded an annual profit of $593,064 compared with a profit of $199,272 in 2006. Lower product costs of sales helped improve the company's bottom line as annual revenue increased slightly to $10.7 million, from $10.4 million in 2006. Gross profit increased to $4.3 million from $3 million in 2006.
For 2009, the company plans to continue its business expansion in foreign markets, despite global economic uncertainty and a strengthening Canadian dollar. IPlayco's share price range during the past week: between $0.385 and $0.40; 52-week high: $0.75; 52-week low: $0.195.