MYOB revenue set to exceed A$165m

Australian business software and solutions provider MYOB Ltd expects calendar 2005 revenue to exceed A$165 million ($180.42 million) after recording a jump in half year revenue.

The company today reported a net profit of A$10.56 million for the half year ended June 30, 2005, a 90 per cent increase on the previous corresponding period.

Operating revenue surged by 73 per cent to A$86.8 million, compared with the prior period.

The company's operating earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 73 per cent to A$31.1 million.

"Looking ahead to the rest of 2005, MYOB continues to expect revenue to be greater than A$165 million, with an EBITDA margin of around 36 per cent," the company said.

In the 2004 calendar year MYOB generated total revenue of A$125.3 million.

MYOB chief executive officer Craig Winkler said the half results were pleasing, with solid organic growth augmented by revenue from the merged Solution 6 businesses.

"The integration has been successful and MYOB is a strongly aligned business today," he said.

- AAP