Enterprise resource planning provider TechnologyOne has released results for its 2023 financial half year, recording a 24 per cent increase in after tax profit of $41.3 million.
TechnologyOne chief executive Edward Chung said the company has delivered its 14th year of record first half profit, record revenue and record software-as-a-service fees.
SaaS annual recurring revenue rose by 40 per cent, to $316.3 million, and total revenue was up 22 per cent, to $210.3 million for TechOne.
Chung attributed the strong growth in TechOne's SaaS business to an increased number of large-scale enterprise customers, up by 27 per cent to 903 in total.
“We saw an acceleration of customers move to our global SaaS ERP solution, with more than 189 large enterprise customers committing to make the shift in the last 12 months, the highest number to date for any comparable period," Chung said.
Chung listed Hume City Council, City of Parramatta Council, six Victorian water authorities, Waikato District Council and Massey University in New Zealand, as well as London Business School, Liverpool School of Tropical Medicine and Ashfield District Council in the UK as large-scale enterprise customers.
TechOne issued guidance for the full 2023 year with profit forecast to increaes by 10 to 15 per cent, and SaaS ARR by more than 40 per cent.
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