GBST profits grow to $19.2m

By tlewis ·
August 13 2015

GBST profits grow to $19.2m

Financial services software provider GBST has recorded a 35 per cent increase in its net profit after tax for the 2014-15 financial year, reaching a sum of $19.2 million.

GBST's net profit after tax (NPAT) increased from $14.3 million in 2014 to $19.2 million in 2015.

International sales growth continued to underpin the company's growth, representing 55 per cent of the company's total revenue, according to a statement to the ASX.

GBST managing director Stephen Lake said: "We are pleased to report continued sales growth in both in Australia and internationally."

"This reflects the progress of our global growth strategy which is supported by ongoing investment in our products and people."

According to GBST, the company is continuing to expand globally.

"As the company grows, we are working to expand our business to new markets and look for opportunities to help our clients improve their business performance through technology innovation," Mr Lake said.

The company intends to diversify and penetrate the North American and Asian markets, the statement said.

GBST's wealth management arm, GBST Wealth Management, recorded a sales increase of 28 per cent to $69.1 million for the financial year.

International revenue increased 41 per cent from 2014, with Australian revenue remaining relatively steady at 4.0 per cent.

The ifa Excellence Awards are back in 2021 and nominations are now open!

This prestigious accolade recognises exceptional professionals within the financial advice industry, shining a light on the outstanding achievements from the nation's best and brightest. If this sounds like you or someone you know, then nominate today for the ifa Excellence Awards 2021! ifa.com.au/excellence-awards