21st Jan 2016 09:01
LONDON (Alliance News) - Software firm Fusionex International PLC said its outlook is very positive" for its current financial year and beyond, as it reported a rise in pretax profit for its most recently ended financial year.
The company reported a pretax profit of MYR28.4 million for the year to end-September, up from MYR19.5 million the year before, on revenue of MYR77.0 million, up from MYR57.1 million.
At current exchange rates this is equivalent to a pretax profit of GBP4.6 million, up from GBP3.7 million, on revenue of GBP12.4 million, up from GBP9.2 million a year before.
Fusionex attributed a "significant" portion of its revenue growth to the expansion of its partner channel network, along with the closure of a number of sales towards the end of its financial year.
The company said that it is now investing in "all aspects" of its business to "dramatically accelerate" revenue growth. It said 2016 has started strongly, with new wins already secured for its Big Data product GIANT, and a strong pipeline.
Fusionex did not propose a final dividend for the year. It paid an interim dividend of MYR0.115 per share, up from MYR0.112 the year before.
"2015 saw Fusionex starting to leverage the foundations laid to deliver better than expected growth and we anticipate this trend accelerating in 2016," said Chairman Ivan Teh in a statement.
"The new financial year has started on a very strong note with good new wins already secured for GIANT, as announced, coupled with a very strong pipeline, and therefore the outlook for 2016 and beyond is very positive and exciting for Fusionex" Teh added.
Shares in Fusionex were down 9.8% at 297.60 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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