Total revenues were up 78% year-on-year to $A9.03 million, leading to the one-third jump in net profit after tax of $1.63 million.

Milestones for the period included the company’s first major contract win for its logistics software and services to an American company, coal producer Jim Walter Resources.

Qmastor also acquired competitor Coal Link Australia, now QML Services, and opened its first international office in South Africa.

Major contract wins during the recent financial year were landed with Dalrymple Bay Coal Terminal, Newcastle Coal Infrastructure Group and another corporate contract covering two major iron ore ports in Western Australia.

Qmastor managing director Trent Bagnall told ILN he could not reveal the iron ore company involved due to a confidentiality agreement, however he did say it was a new contract, and did not involve Port Hedland.

“Despite some tough times in the bulk materials sectors, Qmastor’s products and services are now even more important to the mining industry when business drivers include the optimisation of resources and cost reduction,” Bagnall said in the company’s annual results report.

“This fact, combined with encouraging signs of recovery in the demand for bulk materials during the last three months, has Qmastor confident of continued success.”

Bagnall said the company aimed to establish a US office by December and was targeting revenue of at least $10 million for this financial year and $20 million by the end of the 2010-11 financial year.

Qmastor also plans to raise up to $3 million through a share purchase plan to fund more revenue growth from international mining companies.

The Australian company ended June with a cash position of $988,256.

Shares in Qmastor are closed up 3c to 42c on Friday.