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Watch TechnologyOne announces 3-cent special dividend and strong growth in earnings – ShareCafe – Australia Trending News


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Brisbane-based TechnologyOne (ASX:TNE) will pay a special 3 cents per share dividend on top of its ordinary final payout, following a 16% increase in net earnings to just over $130 million for the year ending in September. This rise exceeded the company’s forecasted 10% to 15% increase in net earnings.

The total dividend for the year amounts to 19.52 cents per share, reflecting a 15% increase for the year, including a special dividend of 3.0 cents per share in addition to the final ordinary dividend of 11.9 cents per share.

While the final ordinary payment of 11.9 cents per share was slightly lower than the previous year’s 12.82 cents per share, it was offset by the special payment.

TechnologyOne, a global software as a service and enterprise resource planning tech group, reported that it is back on a growth trajectory that should result in reaching half a billion dollars in annual recurring revenue by 2025, a year earlier than planned.

Annual recurring revenue increased by 23% to $393 million for the year ending in September, with revenue from the company’s SaaS and recurring businesses rising by 22% to $390.7 million.

In a noteworthy revelation within the commentary, the company disclosed that it invested approximately $2 million in due diligence for a potential takeover candidate in the UK but ultimately decided not to proceed. This investment left the company’s underlying profit before tax margin flat at 30% for the year.

The company emphasised its commitment to exploring future growth opportunities and potential deals to benefit shareholders and enhance its product offering. Despite the UK acquisition not meeting their criteria, TechnologyOne remains financially strong and well-positioned to pursue other suitable M&A opportunities in the near and medium term.

TNE CEO Ed Chung expressed satisfaction with the 23% growth in recurring revenue and 16% profit growth, attributing it to the significant value proposition of their global SaaS ERP solution for both new and existing customers. He also mentioned that existing customers are expanding their use of the global SaaS ERP solution, leading to a Net Revenue Retention (NRR) rate of 119%.

Chung further noted that they are on track to exceed $500 million in Annual Recurring Revenue (ARR) by FY25, bringing forward their medium-term guidance by a year. He emphasised their confidence in the sales pipeline and their readiness to invest in growth pillars to double in size every five years beyond reaching $500 million ARR.

We update regularly World Latest Breaking Business News here. We update 2023-11-21 06:32:28 this news story from official website –”

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