Technology One Lifts Interim Dividend After 1H Profit Rises 18% — Update

Technology One Lifts Interim Dividend After 1H Profit Rises 18% — Update

  • Technology
  • May 23, 2022
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  • 2 minutes read


By Stuart Condie

SYDNEY – Technology One Ltd. increased its on-account dividend and marked a healthy increase in its annual earnings after the Australian business software firm increased its first-half profit by 18%.

The ASX-listed company reported a net profit for the six months to March of A $ 33.2 million ($ 23.6 million), compared to A $ 28.2 million a year earlier. . Revenue rose 19% to A $ 172.0 million.

Technology One, which is moving from a traditional licensing model to software as a service (SaaS), said recurring annual revenue rose 44% year-on-year to A $ 225.1 million and is expected to increase more than 40% of the full fiscal year 2022.

“As we continue to gain more customers and our SaaS platform continues to scale globally, our profit margin will continue to expand,” said CEO Edward Chung.

Technology One expects annual revenue of A $ 500 million and a continuing pre-tax profit margin of 35% for fiscal year 2026, up from 25% in the six months to March.

The company’s directors declared an interim dividend of 4.2 Australian cents per share, up from 3.82 cents a year earlier.

Technology One expects net profit before tax for the full year to be between 10% and 15% higher than the Australian $ 97.8 million in fiscal year 2021.

Write to Stuart Condie at stuart.condie@wsj.com



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