Praemium posts record revenue

Publicly-listed financial services technology platform provider, Praemium has recorded record first half earnings on the back of reduced losses in its international business and a solid increase in funds under administration.

The company reported earnings before interest tax depreciation and amortisation of $2.6 million, representing a 39 per cent increase over the prior half with record revenue and other income of $17.2 million, representing an increase of 16 per cent.

Commenting on the result, Praemium chief executive, Michael Ohanessian said it represented the company's sixth consecutive half of profit improvement.

Looking forward, Ohanessian pointed to an expanded sales presence in Australia to target significant demand in the SMA platform market while, internationally, the firm was seeing increasing interest in its platform, investment management and CRM solutions.

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