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

Latest News

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CRITICS CALL FOR MORE INDEPENDENT DIRECTORS ON BLUE SKY BOARD

BLUE Sky Alternative Investments (ASX: BLA) has defended its governance and valuation processes in response to severa...

BEGA PAYS $460 MILLION FOR VEGEMITE TO BRING THE ICONIC BRAND BACK UNDER AUSTRALIAN OWNERSHIP

VEGEMITE is back under Australian ownership after Bega Cheese (ASX: BGA) agreed to buy Mondelez International's A...

GUVERA ESCAPES WIND-UP ORDER

GUVERA has avoided being wound up after a claim for a $1.78 million debt by Kwong Properties was dismissed at the ...

Related News

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter