StockMarketWire.com - Banknote authentication group Spectra Systems posted a rise in first-half profit after it obtained new business from a central bank customer.

Pre-tax profit for the six months through June increased to $3.03 million, up from $1.98 million year-on-year.

Revenue climbed 23% to $8.0 million and adjusted earnings rose 44% to up 44% at $3.5 million.

Spectra Systems did not declare an interim dividend.

'The company's first half revenues and earnings are up substantially from the six months ended June 30, 2020 and in line with the board's expectations for the first half,' chief executive Nabil Lawandy said.

Lawandy said the company was on track to achieve record earnings and meet market expectations for the full year..

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