TechnologyOne Ltd (ASX:TNE) announced its FY 2020 first half-year result ended 31 March 2020.
The positive performance of the Company signifies the continued high demand for the TechnologyOne Global SaaS ERP Solution. Key highlights are as follows:
- Revenue stood at $138.4 million, upsurge of 7 per cent.
- SaaS Annual Recurring Revenue grew by 33 per cent on pcp basis, to $110.2 million.
- Expenses were $112.5 million, an increase of 7 per cent.
- Profit before tax and profit after tax, both increased by 6 per cent on pcp basis, to $25.9 million and $19.1 million, respectively.
- Dividend of 3.47 cps was declared, an increase of 10 per cent on previous corresponding year.
- Cash and cash Equivalents increased by 23 per cent on pcp basis.
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