MYOB Group Limited (ASX: MYO)- MYOB posted record growth in online subscribers

  • Aug 24, 2018 AEST
  • Team Kalkine
MYOB Group Limited (ASX: MYO)- MYOB posted record growth in online subscribers

MYOB announced its half year results for the six-month ended 30 June 2018, posting 7% growth in revenue to $218.5 million. Online subscribers increased to 492,000 with year-on-year change of 61% on previous corresponding period.

Net profit after tax plunged 10% to $25.3 million while underlying EBITDA increased 3% on 1H17. NPATA was $45.6 million, 6% lower than the 1H17, with associated NPATA earnings per share of 7.7 cents, 5% below prior year.

The Board has declared an interim dividend of 5.75 cents per share, payable on 18 October 2018. This reflects a payout of 75% on 1H18 NPATA.

In the first half of 2018, the company has launched new online tool called MYOB Advisor, which uses AI and Natural Language Generation to kick start the conversation between accountant/advisers and their clients and help support their needs.

MYO share price slipped 2.244% to $3.050 on 24 August 2018.

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