TECHNOLOGYONE POSTS STRONG GROWTH
Written on the 5 January 2015
TECHNOLOGYONE Limited (ASX:TNE) has delivered positive full year results, in its eleventh consecutive year of revenue growth.
The software company posted an 8 per cent increase in revenue to $195 million for the 12 months ending 30 September 2014.
Net Profit After Tax was up 15 per cent at $30 million, compared to the previous period.
The company also reported strong growth in initial license fees, up 11 per cent to almost $42 million, after securing more than 50 new major corporate customers in FY14.
TNE expects the momentum to continue as more people adopt its TechnologyOne Cloud and new generation product Ci Anywhere.
Executive chairman Adrian Di Marco says the ongoing success of the company is a result of adapting to consumer needs.
"The strength of our product offerings, our enterprise vision and vertical market focus, and the resilient nature of the enterprise software market are the foundation stone for our continuing success," Di Marco says.
"When coupled with our innovation, creativity and substantial ongoing investment into new and emerging technologies, we are well positioned for strong growth in the coming years."
Research and development will continue to be a key focus for TNE this financial year, making up 19 per cent of revenue spend.