Accounting software vendor MYOB (ASX:MYO) has seen its investments begin to pay off as it experiences pro forma revenue, EBITDA and NPATA growth for the full financial year, ending December 31.
Pro forma revenue grew 10 per cent to $328 million, pro forma EBITDA rose 19 per cent to $153 million and pro forma NPATA grew 22 per cent to $86 million.
CEO, Tim Reed, said 2015 saw MYOB return to the ownership of public investors, undertaking the largest technology IPO in the history of the ASX.
“We enter 2016 with great momentum. We believe the accounting industry is transforming, with transaction processing, compliance and advisory services converging into one connected business process,” Reed said. “We see this transformation and are preparing by developing a MYOB single platform, which will offer accountants, bookkeepers, small businesses and their consultants unparalleled ability to drive business success.”
During 2015, MYOB invested about 10 per cent of its revenue in innovative technology, launching MYOB Smart Bills, MYOB PaySuper, MYOB Advanced and MYOB Portal.
“In 2015, MYOB made record investment in technological innovation while delivering double digit pro forma revenue, EBITDA and NPATA growth, all exceeding IPO forecasts,” MYOB CFO, Richard Moore, said. “In 2016 we continue our strategy of targeted investment for future growth and reaffirm June 2016 prospectus guidance. For FY16, we expect revenue growth to continue in line with historical trends and EBITDA margin to remain within the 45-50 per cent range.”
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