MYOB grows revenue 10%

Australian accounting software company MYOB has grown revenue 10 percent to hit $328 million for the first 12 months ending 31 December.

The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) was up 19 percent to $153 million and pro forma net profit after tax excluding amortisation (NPATA) was $86 million, up 22 percent from the prior year.

MYOB chief executive Tim Reed said: “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.

"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.”