Australia's TechnologyOne soars on strong annual results, upbeat outlook

TECHNOLOGY ONE

21/11/2022 23:46

** Enterprise software maker TechnologyOne Ltd  TNE.AX 
rises as much as 6.2% to A$13.12, its highest since Jan. 4
    ** Says fiscal 2022 profit after tax rises 22% to A$88.8 mln
($58.63 mln)
    ** FY revenue up 18% to A$369.4 mln, annual recurring
revenue up 25% to A$320.7 mln
    ** Expects group margins to continue to improve more than
35% in the coming years; sees margin growth returning in fiscal
2023
    ** Announces final dividend of 10.82 AU cents per share, and
a special dividend of 2 AU cps
    ** TNE marks its biggest intraday pct jump since Nov. 11;
second-biggest gainer in the ASX 200 benchmark index  .AXJO 
    ** TNE down 3.6% this year, as of last close, vs a 4.1%
decline in the ASX 200 benchmark 
($1 = 1.5147 Australian dollars)
 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))