Hansen lifts FY11 profit 21%

Hansen lifts FY11 profit 21%

Billing software developer Hansen Technologies (ASX:HSN) beat its own expectations with a 21% growth in FY11 profit to $13.5 million.

Hansen's ebitda and pre-tax profit were both $1 million higher than it had predicted in May, when it upgraded its guidance for FY11.

But the company, which develops its solutions for the energy, IT and telecom sectors, reported a negligible decline in revenue to $57.6 million.

CEO Andrew Hansen said the result represented the company's fifth straight year of growth in its operational results.

He said the company had largely met its objectives for the year, including by making its first mainland Europe sale and investing to keep its core software products up to date.

Going forward, Hansen will continue to pursue growth through strategic acquisitions, Hansen said. “We will continue to be patient while we search for targets that will offer the right balance between growth and financial strength.”

HSN shares grew 2.3% in Thursday's trading to $0.890.

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Tags softwarefinancial resultsbillingHansen TechnologiesAndrew HansenASX:HSN

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