Claims services company Stream made a net profit of $46,453 in the six months to December 31, compared with a loss of $343,492 in the corresponding period of 2016.

Total revenue was $782,394, down from $5.51 million.

In December 2015 Stream’s Australian business was put into administration and subsequently liquidated, and in May 2016 its UK business was sold.

In April last year its New Zealand subsidiary, rebranded as Symetri, was acquired by Gallagher Bassett.

Stream continues to provide software services to the New Zealand and UK businesses.

“A core objective during the period has been to bed down the transfer of the Symetri claims management business to the new owners,” Stream said.

“Now the transition has been bedded down, we are looking to grow the technology business either by way of organic growth or acquisition.”