Reckon (RKN) has announced solid full-year financial results today posting $98.1m revenue for the year ending 31 December 2013, a 1% increase in revenue earnings on the previous year. Reckon has also announced a 4% growth in EBITDA for the same period.
CEO Clive Rabie says today’s results come off the back of a significant year for Reckon. He has cited a number of milestones for the business over the last 12 months that put the company in a strong position for the future.
“In 2013 our business underwent a great deal of change to position Reckon for growth in 2014 and beyond, and we’ve moved closer toward our goal of offering clients a choice of a full suite of desktop, hosted and cloud products.
“A number of significant activities included the development and unveiling of our new cloud accounting software, Reckon One, and finalising the re-branding of the Reckon Accounts range of products. We’ve also significantly changed our internal structure and strengthened our leadership team in recent months as we prepare for future growth,” says Rabie.
Highlights from Reckon’s full-year financial results include:
Highlights from Reckon’s full-year financial results include:
- Reckon Accounts product range sales growing by 4%. A positive result despite replacing the 20 year old brand-name in Australia and New Zealand;
- A 5% growth in Reckon Docs company compliance solutions;
- Strong growth in Virtual Cabinet Revenue;
- Introduction of subscription pricing in the Professional Divsion;
- Scan product for the legal market launched; and
- The sale of Reckon’s investment in Connect2Field Holdings Pty Ltd.
Now Reckon is strongly positioned to capitalise on the release of their new cloud accounting solution, Reckon One.
“We are particularly excited about the potential opportunities that the delivery of Reckon One into the Australian and New Zealand markets initially, and internationally at a later date, will have on our group,” says Rabie.
About Reckon“We are particularly excited about the potential opportunities that the delivery of Reckon One into the Australian and New Zealand markets initially, and internationally at a later date, will have on our group,” says Rabie.
Reckon is an Australian publicly listed company well-known as a leading provider of software solutions for accounting, bookkeeping and legal professionals, as well as small to medium sized businesses in Australia and New Zealand. Reckon’s extensive product range is designed to make accounting faster, easier and simply more productive. Find out more at www.reckon.com.au
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