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Reckon lifts 2009 profit 27% to $14.4m

Reckon lifts 2009 profit 27% to $14.4m

Financial management software developer Reckon (ASX:RKN) has announced it earned a net profit of $14.4 million in 2009 – a 27% increase from the year before.

The company also lifted its revenue 42% to $85.3 million, and its ebitda 38% to $26.1 million.

Group CEO Clive Rabie said the company had managed to weather the economic crisis in 2009 by carefully managing costs.

“We further benefited from the acquisition of Billback and Corporate Services, as well as from the nQueue Billback joint venture in the second half of the year,” he said.

Rabie added that the company is well-positioned to continue organic growth in 2010 and beyond.

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