Software developer Jade Software Corp narrowed its annual loss after selling trans-Tasman human resource and payroll business Empower HR for $8.5 million.

Christchurch-based Jade Software reported an after-tax profit of $1.16 million for the half-year to June 09 compared to $876,000 for the corresponding period last year, but it expects the second half of this year to not treat it as kindly.

The privately-held company reported that operating revenue grew 3.2% to $23.9 million and net profit before tax increased 29.8% compared with the same period in 2008, although this was largely ascribed to underperforming projects last year.