Fronde’s financials in full-flowMay 27 - 10am
Fronde has announced its financial results for the year ended 31 March 2013, representing a strong year of growth in all key performance indicators.
The ANZ software development and cloud integration firm says total revenue for the period was $59.9 million, a 25.8% increase over the prior year of $47.6 million.
Earnings Before Interest and Tax (EBIT) was $4.0 million compared to $2.0 million in 2012, an increase of 100% year-on-year while net profit increased by 145% from 2012 $1.1 million to $2.7 million for the 2013 period.
“Fronde has enjoyed sustained top line growth this year in a repeat of the prior two years, but with a substantial improvement in the profitability of the company,” says Ian Clarke, CEO, Fronde.
“This was accomplished while continuing to make substantial investments in new service offerings, sales capacity and marketing initiatives to drive continued growth in the future.”
Clarke says Fronde has rounded out its cloud offerings with the addition of Amazon and NetSuite to its existing partners Google and Salesforce.
“Fronde is now in an ideal position to provide our clients with on-premise, locally hosted or public cloud solutions for a wide range of enterprise requirements,” he says.
“Our continued growth is a result of our customers engaging with the value that our partner cloud solutions bring and also the improvement in our New Zealand software development business.
“I look forward to an exciting year ahead as we further pursue our growth agenda.”
Fronde recently acquired a leading Australian NetSuite reseller and the board also announced a fully imputed cash dividend of 4 cents per share to be paid on June 28, with the date of record being June 7.
“The demand for Fronde’s services and the opportunities we continue to uncover requires us to carefully manage our resources in order to facilitate this growth,” Clarke says.
“Choosing what we do and what we say no to is critical to sustaining this performance.”