Reckon lifts performance to post strong end year result

Sydney, 5 February 2013: Reckon Limited (RKN) has announced a 7% increase in company revenue for the year ended 31 December 2012 citing a stronger performance in the second half of the year.

Reckon has also posted growth across each of its divisions resulting in an overall 6% increase in net profit after tax (NPAT) of $1.1 million, as well as a 9% lift in earnings before tax, depreciation and amortisation (EBITDA) compared with 2011. Reckon Group CEO Clive Rabie has highlighted new customer acquisition and a strong direct sales performance as key to the positive end year result.

“We are pleased to finish the year on a strong note with a better performance in the second half in all our businesses. Notably, our hosted and enterprise products have performed strongly again, benefitting from our growing direct sales team,” said Clive Rabie, Group CEO Reckon Limited.

“Our APS business also performed well lifting revenue by 8% compared to 2011 as a result of continued new customer acquisition.”

Reckon has also flagged plans to launch a new cloud accounting solution in 2013 designed to build on its strong desktop and hosted offerings.

“As the only supplier to our market offering desktop, hosted and soon to be released cloud solutions, Reckon is in a unique position. The release of a new cloud accounting solution, as well as the delivery of our Virtual Cabinet document management technology to our markets and expanding the release of the APS Private Cloud solution, will significantly widen opportunities for our group this year,” says Rabie.

Reckon has announced an 11% increase in earnings per share (EPS) for the year ending 31 December, 2012, to 13.4 cents per share.

Find out more at www.reckon.com.au