Solid results for Reckon as company prepares for cloud release

Sydney, 13 August 2013: Reckon Limited (RKN) has announced solid mid-year financial results today citing significant milestones for the company in the last six months. Reckon says the company is now uniquely positioned in the market as a provider of desktop, hosted and cloud business solutions.

Reckon has posted $49.5m revenue for the half-year ending 30 June, 2013, a 3% increase in revenue earnings on the previous year. The company has also announced a 10% increase in Net Profit After Tax (NPAT), for the same period.

Reckon’s Group CEO, Clive Rabie, says the results are very pleasing following an important start to the year. In the first six months of 2013 Reckon has unveiled their much anticipated cloud accounting solution, Reckon One, and rebranded the well-known QuickBooks business range products as Reckon Accounts, in Australia and New Zealand.

“Reckon has now established a unique position in the market by offering clients the choice of desktop, hosted and cloud business solutions. We’ve been able to harness our significant domain expertise to develop and adopt a ‘designed by you’ methodology into our new cloud offering, Reckon One, which is now in beta phase as we prepare for a full release later this year,”  says Rabie.

“The half-year results show solid growth across the core areas of our business, which in our view shows the strength and stability of our company. We are well positioned to take advantage of opportunities presented before us with the release of Reckon One, as well as the expansion of both the APS Private Cloud and Virtual Cabinet products.”

Reckon has announced an interim dividend of 4 cents for the half year ending 30 June, 2013, a 7% increase over the prior year interim dividend.

More on Reckon's half-year financial results available at www.reckon.com.au