GBST sees 80% increase in pre-tax profit

Financial technology company GBST, which has been the subject of an acquisition bidding battle, has seen pre-tax profits rise by 80 per cent to $14 million for the full year 2019.

In its results for the full year to 30 June, 2019, the fintech firm said net inflows were $26.3 million, up from $11.2 million in the previous year.

Total revenue and other income was $94.3 million, up seven per cent from $88.3m in 2018, while operating EBITDA was $19 million, up 52 per cent from 2018.

When the operating EBITDA was considered before the strategic research and development (R&D) program that the firm was doing, it was line with 2018, which the firm said was the result of increased infrastructure costs. The existing program of R&D work including Catalyst and E-VOLVE was 47 per cent complete and it was also looking at annuities and the ASX Chess upgrade.

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Source: GBST sees 80% increase in pre-tax profit | Money Management