Altium expects to hit $200m revenue by 2020

Company News

by Anna Napoli

Software designer, Altium (ASX:ALU) has announced its half year results for financial year 2019 with net profit, earnings and revenue all higher compared to the same time last year.

Net profit rose 57 per cent to $23 million.

Revenue strengthened over the period and rose 24 per cent per cent to $78 million.

China led the strong growth with revenue up 49 per cent.

Its earnings margin (EBITDA) increased from 30 per cent to 36.3 per cent.

The company declared an interim dividend of A$0.16, up 23 per cent.

The company says it expects to hit $200 million in revenue next year with it looking to scale to 100 000 subscribers due to an expectation subscriber growth will accelerate post 2020.

 Shares in Altium (ASX:ALU) closed 0.26 per cent higher to $27.07.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.