TechnologyOne
(ASX:TNE), an enterprise software company with a market cap of over $1.7B, with offices in six countries, has announced its full year resulted ending 30 September 2016.
The company says its net profit after tax rose 16% to $41.3 million – a result which exceeded its market guidance for profit growth, which was between 10% and 15%.
TechnologyOne says this is its 17th consecutive year of record revenues. This year’s profit result was driven by substantial growth of the company’s software as a service (SaaS) business, which more than doubled for its second consecutive year. The company’s profit was also boosted by its licence fees also jumped by 14% to $56 million.
The company says some high profile clients for its software as a service contracts include – TAFE Queensland, La Trobe University, University of Dundee and Leicester City Council in the UK.
