Enterprise software company TechnologyOne claimed a $5 billion valuation for the first time after it reported strong growth in its subscription business from local government and higher education customers.
Its shares rose 2.8 per cent on Tuesday to $15.75 after the company reported a net profit of $41.3 million for the half ended March 31, up 24 per cent compared to the previous corresponding period.
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Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
