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. 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.