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.




Related Content

Legg Mason funds added to Praemium

Legg Mason has announced that 10 of its managed funds have been now added to the Praemium’s platform in Australia and will be available via its Sepa...more

IRESS reports 10 per cent revenue growth

IRESS has reported a 10 per cent growth in revenue for full year to $430 million, driven by the positive contribution to earnings from Financial Syner...more

Author

Comments

Add new comment