Class records positive profit growth
Self-managed superannuation fund (SMSF) software provider Class has seen a total year revenue growth of 28 per cent in its financial year 2017 results driven by high levels of growth in billable accounts.
Billable accounts held by Class increased 31.503 to 143,944 in the 12 months to 30 June 2017 which has helped the SMSF software provider record a 27 per cent increase in net profit after tax, along with a 39 per cent increase in earnings before interest, tax, depreciation and amortisation (EBITDA).
Class chief executive, Kevin Bungard said the portfolio offerings had improved greatly over the last financial year undeterred by regulation changes.
“These positive financial results have been driven by the continued strength of the SMSF industry despite the disruption caused by the recent super reforms,” he said.
“Class’ financial performance demonstrated a strong businesses which continues to grow and remains well positioned.”
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