TECHNOLOGYONE POSTS STRONG PROFIT

Written on the 27 May 2014 by Laura Daquino

TECHNOLOGYONE POSTS STRONG PROFIT

TECHNOLOGYONE (ASX: TNE) has announced a 17 per cent increase in net profit after tax (NPAT) for the half year, among other positive growth markers.

It increased its dividend to 1.95 cents per share, up 10 per cent the prior year, representing a payout ratio of 62 per cent.

The results for the half year ending March 31 have put the company on track to deliver 10 to 15 per cent growth for the full year.

The Brisbane-based company with over 1000 corporate clients, including a string of government and educational institution customers, added a significant number to the mix during the period.

OneCare Limited and Auckland University of Technology have become beneficiaries of the TechnologyOne service, while the company has also extended its international reach to include Edinburgh Leisure, The East Riding of Yorkshire Council and Pepper Finance Ireland.

High levels of customer satisfaction and retention were maintained and annual licence fees again saw strong growth, increasing by 13 per cent.

Initial licence fees also grew by 24 per cent in the half year, which executive chairman Adrian Di Marco (pictured) expects to keep growing on the back of the company’s Connected Intelligence (Ci) product range and TechnologyOne Cloud.

The focus on these ranges accrued research and development costs of $18.3 million for the half year, up six per cent.

The take-up of TechnologyOne’s Connected Intelligence (Ci) product range continued, with Di Marco expressing confidence in the range’s next generation in the report.

“Ci Anywhere will provide a platform for continued strong growth in licence fees in future years.

“Its support of smart mobile devices offers unprecedented flexibility to mobilise our customers’ workforces, and its beautiful design and ease of use truly raises the bar for enterprise software.”

Meanwhile, Di Marco says the TechnologyOne Cloud is also being primed as the next platform for company growth.

Di Marco says cloud computing is “the next gold rush in the IT industry” considering the world’s growing mobility – however TechnologyOne is going one step further by offering its software as a service.

“Cloud hosting providers adopt a ‘lift and shift’ approach, simply installing software in the cloud.

“On the other hand, software as a service sees the company that builds the software, also run the software as a service for its customers. Software as a service, which is what Google, Facebook, Salesforce and TechnologyOne offer, is the future of cloud computing,” says Di Marco.

The company will continue to roll out its Ci and Cloud product ranges at regional showcase events over the coming months.

To read more about Di Marco's business philosophy exclusive to Brisbane Business Newshttp://www.brisbanebusinessnews.com.au/articles/tech-boss-calls-for-focus-on-innovation.html


 


Author: Laura Daquino Connect via: Twitter LinkedIn

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