PROFIT INCREASE FOR BRISBANE’S TECHNOLOGYONE

Written on the 21 November 2011

PROFIT INCREASE FOR BRISBANE’S TECHNOLOGYONE

ASX-LISTED TechnologyOne (ASX:TNE) today announced a 14 per cent jump in net profit to $20.3 million for the year ending September 30, 2011.

The Fortitude Valley-headquartered software company’s revenue increased 15 per cent to $156.7 million off the back of record revenues and licence fees during the period.

Executive chairman Adrian Di Marco (pictured) claims the company invested a record $31.8 million in research and development this year, representing 20 per cent of overall revenue.

“We are providing our customers with a simple and evolutionary path to the exciting new paradigm of cloud computing,” he says.

“Cloud is the future and TechnologyOne has committed substantial resources to ensure our customers can take advantage of the benefits the Cloud offers, while still using their existing systems. We are very excited to be unveiling our complete cloud offering at (the) Evolve user conference in February 2012.”

Di Marco believes the company’s investment in a new preconfigured solution business is bearing fruit.

“We are already starting to see some major successes, which is producing a significant revenue stream including 28 new customers who have signed up for these preconfigured OneSolutions,” he says.

“More than $11 million worth of licensing and consulting fees have been secured as a result of the release of the new software solutions.”

Di Marco is upbeat about future prospects, pointing to work underway on new mobile solutions and an offshore development centre.

“TechnologyOne has built a suite of enterprise products that puts us in an elite group of software companies globally and we are continuing to use new technologies to gain an advantage over our competitors. We remain confident in our opportunities for 2012 and of continuing growth in the long term,” he says.

The company has agreed to pay final and special dividends for the year totalling 6.12 cents a share – up 7 per cent on the previous period.

TechnologyOne shares opened slightly down today at $1.08 per unit.


Latest News

VITA GROUP POSTS STEADY RESULTS DESPITE ROUGH YEAR

IT'S no secret Vita Group (ASX: VTG) has had a testing year, however the company has still managed to deliver ...

KOGAN BREAKS FORECASTS IN ITS FIRST YEAR OF PUBLICLY LISTED TRADE

RAISING the bar high in its first year as a publicly listed company, Kogan.com (ASX: KGN) has smashed its forecast...

CAMPLIFY MOTORS INTO THE UK MARKET

CARAVAN hire and RV sharing community Camplify has made its move in the European market, establishing its first op...

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter