TechnologyOne boosts March-half profit 47%

Business software company TechnologyOne (ASX:TNE) has lifted its profit 47% to $5.7 million for the half-year ending March 31.

Revenue grew 6% to $59.2 million, while annual license fee payments increased 15% to $18.8 million.

But total expenses grew 3% to $52.3 million, with R&D expenses contributing to $12.7 million of this.

“We have continued to win major deals against our multinational competitors, with new contracts across all major vertical markets,” TechnologyOne executive chairman Adrian Di Marco said.