5th Feb 2015 08:48
LONDON (Alliance News) - Software provider Fusionex International PLC Thursday reported a higher profit for its last financial year, despite significantly increasing investments in the business, as revenue grew by 29% on the back of a strong trading performance in Asia Pacific.
The company reported a pretax profit of CNY22.8 million for the year to end-September, an 11% increase on the prior year's CNY20.5 million profit, as revenue grew by 29% to CNY44.4 million from CNY57.1 million the year before, driven by sales of products in the Asia Pacific region, which contributed 74% of total revenue.
"Our big data analytics product, GIANT, is gaining significant traction with current and new clients... We are very excited about the accelerating momentum that we are seeing in GIANT's market. To that end, we look towards capitalising on the increasing market opportunities and growing our market share," said Chief Executive Ivan Teh in a statement.
Over the year, the company continued to invest in research and development to enhance its existing and new products for release into the market, resulting in a 45% increase in its administrative and operating expenses.
Fusionex gave a confident outlook for the year ahead, citing the launch of its big data analytics product GIANT and ongoing product development as a supporting factor behind its "significant pipeline" of new opportunities. The company also said that it is in ongoing active discussions with both new and existing customers.
Fusionex said its intends to declare a dividend for the financial year ending September 30, 2015.
The company's shares were trading 3.9% lower at 375.00 pence Thursday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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