Technology One announces half year results, profit up 18%

Technology One today announced strong first half results, with Profit After Tax up 18%, to $4.49 million.

Executive Chairman Adrian Di Marco said the company’s Initial Licence Fees grew by 18% which was a clear indication that its products were performing strongly in the market place.

“The company’s product strategy of providing fully integrated solutions for key vertical markets significantly attributed to this growth,” he said.

“Our human resources and payroll solution gained significant traction with 20 new contracts signed, whilst our local government and tertiary and higher education solutions also recorded strong growth.”

Technology One signed 39 contracts with new clients in its core vertical markets.

Shareholders were rewarded with an increase in the first half dividend to 1.40 cents, up 12%.

Results highlight
  • Net Profit Before Tax of $6.33 million, up 15%
  • Net Profit After Tax of $4.49 million, up 18%
  • Operating Cash Flow of $5.62 million, up 32%
  • R&D Expenditure of $4.97 million, representing 19% of Revenue
  • Dividend of 1.40 cents, up 12%