TechnologyOne reaches record revenue and profits

The company’s net profit climbed 14 per cent and revenue increased 15 per cent

TechnologyOne (ASX:TNE) has released its results for the full year ending 30 September 2011, with the company reporting record revenue and profits.

The enterprise software company’s net profit climbed 14 per cent to $20.3 million and revenue increased 15 per cent to $156.7 million in comparison to the last full year period.

This marks eight consecutive years of record revenues and licence fees for TechnologyOne.

The company’s executive chairman, Adrian Di Marco, attributes its growing revenue and profits to TechnologyOne’s investment in new preconfigured ‘OneSolutions’ solution business.

“More than $11m worth of licencing and consulting fees has been secured as a result of the release of the new software solutions,” he said in a statement.

In addition, TechnologyOne has secured a majority of tenders in the local government sector, including financial services, health, utilities, ports and airports verticals, and invested $31.8 million in research and development.

TechnologyOne also announced a final dividend and special dividend would be paid, with the total dividend for the year increasing to 6.12 cents per share.

This amount was up seven per cent on the previous year, based on a share price of $1.01, thanks to the company’s strong balance sheet and continuing growth.

The company revealed it will invest in an offshore development centre and new mobile solutions across its product range, and will unveil its Cloud offering at ‘Evolve’, TechnologyOne’s user conference, in February 2012.

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