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Ignite still failing to catch fire

Ignite managed to achieve a small profit in the six months to December, despite a 9% drop in revenue year-on-year and a corresponding fall in gross profit.

Revenue was $50.2 million, but the company trimmed contractor costs by 9% to $44.2m as it exited low-margin business.

Ignite also slashed headcount during the period, reducing employee expenses by 26.5% to $3.6m and reducing staff numbers from 66 in December 2023 to 49...