Australia's TechnologyOne hits over 1-month high on upbeat HY results, forecast

TECHNOLOGY ONE

21/05/2024 03:24

** Shares of TechnologyOne  TNE.AX  rise as much as 4.5% to
A$16.745, their highest level since April 10 
    ** Stock on track for their best day since May 9, if gains
hold
    ** The software co posts 16% rise in half-year profit after
tax and total revenue, respectively
    ** Declares interim dividend of 5.08 AU cents per share, up
10% y/y
    ** Sees net profit before tax growth for FY24 of 12% to 16%
vs FY23
    ** Sees annual recurring revenue continuing to grow
strongly, up 15%-20% over the full year
    ** Stock up 4.2% YTD, as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))