Aconex profit sinks 50pc despite revenue gains

Project management software company Aconex has posted a slide in profit despite a big increase in global revenues.

Aconex co-founder and chief executive Leigh Jasper.

Project management software company Aconex has posted a slide in profit despite a hefty increase in global revenues.

Aconex (ACX) today unveiled a profit of $5.7 million for the year ending June, a fall of 50 per year year-on-year. But revenue for the company, which was only added to the ASX200 in March this year, increased by 50 per cent to $123.4m, boosted by the acquisition of Conject.

Aconex, which sells cloud collaboration platform software for the global construction industry, declined to pay a dividend.

Revenue from Australia and New Zealand grew 36 per cent over the year, while global earnings increased more than 60 per cent.

“The $US10 trillion construction industry is going digital, and we are at the centre of this digital transformation, connecting people and data to build the world’s infrastructure,” chief executive Leigh Jasper said.

Founded in 2000 and listed in late 2014, Aconex shares have surged 450 per cent in a little under two years. Aconex has 47 offices in 23 countries around the world, including global headquarters in Melbourne.

“We completed three acquisitions to further increase the value that we deliver to customers and consolidate our leading market position worldwide,” Mr Jasper said. “With these acquisitions as well as organic sales momentum, we continued to scale the business for significant growth in profitability,” he said.