TechnologyOne H1 profit up 48pc, payout up

Brisbane-based software provider TechnologyOne has posted a 48 per cent rise in first-half earnings but warned full-year figures could be much different.

Sales of the company’s enterprise resource planning software contributed to a net profit after tax of $28.2 million for the six months to March 31.

Boss Ed Chung said while the software as a service product was gaining sales, TechnologyOne was reducing its legacy licence fee product.

Sales of the latter would drop by about $7 million over the full-year, Mr Chung said.

He said this would have a significant impact, but was part of a strategy to grow software as a service sales.

Shareholders will receive an interim payout of 3.82 cents per share. The fully franked amount is 2.29 cents per share.

This is higher than the previous interim dividend of 3.47 cents per share, of which 2.08 cents per share were fully franked. 

Shares were lower by 0.44 per cent to $8.95 at 1134 AEST.

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