Reckon reports steady 1H20 results as it merges with Zebraworks
Summary
For the six months to 30 June 2020, the company saw net profit after tax lift ever so slightly to AU$5.4 million from the previous corresponding period, while earnings, before interest, tax, depreciation, and amortisation remained steady at AU$17.1 million. Total group revenue closed at AU$39.8 million, just 2% higher than the same period last year. Reckon Group CEO Sam Allert said the results for the first half of 2020 is proof of the companys resilience. "We have experienced an eventful six months and are seeing the fruits of a clear, multi-year strategy -- one which has shaped a business with the resilience, agility and expertise to weather storms while continuing to reliably deliver growth and profitability for shareholders," he said. See also: SaaS, PaaS, IaaS: The differences between each and how to pick the right one (TechRepublic) In addition, Reckon said the growth in the first half of 2020 was underpinned by its decision to take a 70% stake in Zebraworks, which saw the groups legal division merge with the startup on August 1 to form Nqueue Zebraworks.
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