May 24, 2023

Wednesday, 24 May 2023 09:53 TechnologyOne reports rise in half-year profit to $41.3m 0 Image by Gerd Altmann from Pixabay ASX-listed enterprise software-as-a-service vendor TechnologyOne has reported a 24% rise in its half-year profit after tax, to $41.3 million. In a statement to the ASX on Tuesday, the company said this was the 14th year of record first-half profits. Its annual recurring revenue for the same period rose by 40% to $316.3 million. Revenue from the SaaS and continuing business also went up, by 18%, to $200 million. TechnologyOne said it had recorded a profit of $3 million in the UK, a rise of 29% year-on-year. Chief executive Edward Chung said: “We saw an acceleration of customers move to our global SaaS ERP solution, with more than 189 large enterprise customers committing to make the shift in the last 12 months, the highest number to date for any comparable period. “Our global SaaS ERP is the future of enterprise software. It provides our enterprise customers a mission critical solution to run their entire business on any device, anywhere, at anytime. It also allows them to innovate and meet the challenges ahead with greater agility and speed, without having to worry about underlying technologies. This makes life simple for them. “These are strong half-year results for TechnologyOne and validate the strength of our SaaS strategy, which continues our strong growth trajectory in both Australia and the UK. “We continue to have many strong customer wins driving organic growth. Twenty-five large scale enterprise customers partnered with us in the first half, including Hume City Council, City of Parramatta Council and six Victorian water authorities in Australia, Waikato District Council and Massey University in New Zealand and London Business School, Liverpool School of Tropical Medicine and Ashfield District Council in the UK. "All of these organisations partnered with us to find efficiencies through transforming their operations to enable more free time and resources, which can then be invested back into their customers and community,” Read 7 times It's all about Webinars. Marketing budgets are now focused on Webinars combined with Lead Generation. If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event. The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page. Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview. We look forward to discussing your campaign goals with you. Please click the button below.