Orc profits slain in 2004

Profits at derivatives software firm Orc Software were down in 2004, falling by 61%, to SEK29m ($4.1m) from SEK74m in 2003.

In a statement, ceo Jonas Lindstrom admitted, "The profit development for 2004 was not satisfactory. For the most part this was due to the expansion of the organisation... cancellations of client agreements and cutbacks by certain clients."

There has been...