Australia's TechnologyOne hits record high on half-year profit beat
May 20 (Reuters) - Shares of Australian enterprise software provider TechnologyOne (TNE.AX), opens new tab climbed to an all-time high on Tuesday, after it posted first-half earnings above analyst expectations.
The stock climbed 12.7% to trade at A$37.2 per share as of 3000 GMT. It emerged as the top percentage gainer on the ASX200 benchmark index (.AXJO), opens new tab, which rose 0.5%.
The cloud services firm reported a pre-tax profit of A$81.9 million ($52.77 million) for the six months ended March 31, comfortably surpassing the A$77 million consensus estimate compiled by Visible Alpha.
It posted pre-tax profit growth of 18% fiscal 2024, and forecast pre-tax profit growth of 13% to 17% for fiscal 2025.
($1 = 1.5521 Australian dollars)
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