08:48 AM EST, 11/14/2024 (MT Newswires) -- Tech company Alithya Group ( ALYAF ) on Thursday reported higher second quarter adjusted profit, despite lower revenues in Canada, and separately announced the appointment of Nicolas Lavoie as CFO.

Adjusted profit rose to $5.3 million, or $0.05 per share, from $0.3 million, or nil per share, last year, boosted by lower selling, general and administrative expenses.

Revenues decreased 6% to $111.5 million, compared to $118.5 million, reflecting lower revenue from Canada operations, which decreased 12.2% to $59.6 million during the quarter. It said the decrease in revenues was due primarily to one client's major transformation project reaching maturity and a reduction in revenues from a few government contracts, partially offset by organic growth in certain areas of the business, compared to the same quarter last year.

U.S. revenues increased by $1.1 million, or 2.3%, to $46.8 million, from $45.7 million, due primarily to organic growth in certain areas of the business, including a favorable US$ exchange rate impact of $0.8 million between the two periods, partially offset by a decrease in software revenues.

International revenues increased by $0.3 million, or 5.8%, to $5.1 million, from $4.8 million.

The company has appointed Nicolas Lavoie as chief financial officer, effective Dec. 9. Lavoie was most recently Chief Financial and Administrative Officer of Groupe Solotech.

ALYA rose $0.06 or 3.5% to $1.77.