HELPING TO IMPROVE TELECOMMUNICATIONS NETWORKS HAS LET THE SOFTWARE HOUSE DEFY MARKET TRENDS

The Sydney-based software developer Clarity International has defied market trends to be the best-performing float of 2000-01, increasing its market value by 320%. Clarity, which develops software to manage performance in telecommunication networks, listed on the Australian Stock Exchange on October 11 last year. Its 50¢ issue price rose to $4.40 in November, and it made a six-for-one share split in April this year, giving it 36 million shares on the market. On July 23, the split shares were valued at 35¢, equivalent to $2.10 on each original share - an increase of 320% on the issue price.