PROFIT UPLOAD FOR TECHNOLOGYONE

Written on the 19 April 2010

PROFIT UPLOAD FOR TECHNOLOGYONE

BRISBANE software company TechnologyOne Limited (TNE) expects to record a 30 per cent spike in profits for the March half, following a string of new contracts with clients including the High Court of Australia and Skills Victoria.

CEO Adrian Di Marco (pictured) says the profit before tax result of $6.4 million is still unaudited, with official results to be released on May 24.

“The first half result has been achieved through an increase in license fees and other revenue, coupled with our cost control initiatives,” he says.

“Given the operating leverage that still exists in our business, this has had the impact of driving up our first half profits substantially.”

TNE has signed with new customers including the High Court of Australia, Skills Victoria, Land Development Agency, New Zealand Department of Labour, Burwood Council, Moonee Valley Council, Newcastle Airport, Unitywater and National Transport Insurance.

Di Marco says with aggressive tactics from competitors and delayed decisions the current environment is challenging.

“In such an environment it is important to note that we are not losing business to our competitors, in fact, we are actually winning a greater share than in the past, as customers look for ways to improve their efficiencies and challenge existing supplier arrangements,” he says.

“For us the biggest challenge in the last 12 months has been contract delays in a more cautious and risk averse market.”

TNE shares rose 4.6 per cent to 80 cents per share this morning.


Latest News

BABY STEPS FOR BELLAMY'S IN TURNAROUND

GREEN shoots are appearing in the Bellamy's Organic (ASX: BAL) business in the early days of its turnaround.

T...

LOSSES MOUNT AT SLATER AND GORDON

SLATER and Gordon's losses continue to mount following its disastrous entry in to the UK market. The compa...

NVC PLAYS A DIFFERENT GAME, AND WINS

AS its profits rise, National Veterinary Care's (ASX: NVL) focus on training over retail is proving to be a wi...

SUPERLOOP $2M LOSS DOES LITTLE TO KILL SLATTERY'S CONFIDENCE

BEVAN Slattery (pictured) is optimistic that Superloop's (ASX: SLC) financial position is promising, despite t...

Related News

HOW TO TAKE CONTROL OF YOUR CAREER THROUGH TRAINING

GIG economy, remote working, and freelance Friday are more than just buzz terms; our workforce is changing, and so...

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter