Australia's TechnologyOne hits record high on strong HY results

TECHNOLOGY ONE

23/05/2023 01:46

** Shares of TechnologyOne Ltd  TNE.AX  rise as much as 2.5%
to a record high of A$15.690
    ** Software as a Service (SaaS) co says HY net profit
attributable increased by 24% to A$41.3 mln ($28.01 mln)
    ** Declares an interim dividend of 4.62 AU cents per share
    ** Sees FY23 net profit before tax growth up 10% to 15% 
    ** Says on track to surpass total annual recurring revenue
of A$500 mln by FY26
    ** TNE stock set for best day since April 3, if gains hold
    ** Stock up for a fifth consecutive session
    ** TNE up ~17% YTD, as of last close 


($1 = 1.4743 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))