1H17 Appendix 4D and Half Year Report
The principal activities of the Group during the half-year were the development and publishing of software and provision of services for small and medium enterprises, including accountants in public practice.
REVIEW OF OPERATIONS AND FINANCIAL RESULTS
The Group has reported a net profit after tax of $28.3 million for the half-year ended 30 June 2017, an increase of 13.0 per cent on the prior corresponding period. Statutory earnings before income tax, net finance expenses, depreciation and amortisation increased 10.3 per cent to $87.1 million for the half-year ended 30 June 2017.
The increase in operating revenue reported for the half-year period of 14.4 per cent to $204.0 million was attributable to subscriber and ARPU (Average Revenue per Paying User) growth in the underlying business together with the contribution from the Greentree acquisition made in August 2016. The acquisition of Paycorp Payment Solutions Pty Ltd in April 2017 has also contributed to the financial result and has enabled the Group to play a larger role in the provision of automated payment and integrated accounting software solutions.
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About Myob Group Ltd
MYOB Group Ltd (ASX:MYO) is a leading provider of online business management solutions. It makes business life easier for approximately 1.2 million businesses and accountants across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across three core segments – Clients and Partners (business solutions to SMEs and Advisers); Enterprise Solutions (larger businesses) and Payment Solutions. It provides ongoing support through client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly through its Connected Practice Strategy and through the development of the MYOB Platform. For more information, follow @MYOB on Twitter or visit http://investors.myob.com.au/Investors
Myob Group Ltd