TechnologyOne see H1 profit up 130%

Company News

by Rachael Jones

Australia’s largest enterprise Software as a Service (SaaS) company, TechnologyOne (ASX:TNE) today announced its financial results for the half-year ended 31 March 2019, showing continuing strong growth with net profit before tax of $24.5 million up 130 per cent .

This was underpinned by the fast growth of the TechnologyOne enterprise SaaS solution.

With revenue of $129.3 million, up 5 per cent

TechnologyOne CEO Mr Edward Chung say they are on track to deliver net profit before tax over the full year of $71.6 million to $76.3 million.

They are offering a dividend of 3.15 cents per share up 10 per cent.

Shares in TechnologyOne (ASX:TNE) were 2.69 per cent lower at $9.05 yesterday. 

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