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  • 26 February 2004 11:33

Technology One on track for continued growth

Technology One today announced strong first half results, with Net Profit Before Tax up 16% to $5.523 million.

Executive Chairman Adrian Di Marco said whilst their competitors continued to struggle under difficult trading conditions, Technology One was on track for continued profit growth this financial year.

“This momentum should continue into the 2005 financial year, and is consistent with our previous forecasts that we expect IT spending to start increasing in the later part of the 2004 calendar year,” Mr Di Marco said.

Results highlight:

Net Profit Before Tax of $5.523 million, up 16% Net Profit After Tax (reported) of $3.824 million, up 21% Operating Cash Flow of $4.264 million R&D Expenditure of $4.862 million (fully expensed), representing 20% of Revenues Dividend of 1.25 cents, up 25%

The full ASX announcement is available on the Technology One website, http://www.technologyonecorp.com/news/news.html

About Technology One Technology One is one of Australia’s largest publicly listed software companies. Its focus is the design, development, implementation and support of powerful, enterprise wide software applications using Client Server, Internet and eBusiness technologies for the corporate and government sectors.

In particular, Technology One delivers totally integrated, powerful enterprise solutions developed to meet the specific requirements of vertical markets, including: Financial Management and Accounting (Finance One), Higher Education and Universities (Student One), Retail (Retail One), Wholesale and Distribution (Sales One), Human Resource Management (People One), Local Government (Proclaim One).

Technology One also provides large scale, fixed time, fixed price custom software development services through its Project Services Group to meet the exact requirements of a specific customer, using Internet, eBusiness and Client Server technologies. Technology One employs approximately 300 staff in Australia , New Zealand and Malaysia.

Contact Details Adrian Di Marco, Executive Chairman, Technology One Phone (07) 3377 7300

Stephanie Wilson, Public Relations Consultant, Technology One Phone (07) 3377 7518, Mobile 0405 133 871

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