SEARCH
Rubik sees revenue grow 5%
Rubik sees revenue grow 5%
Financial services software company Rubik Financial has reported a five per cent growth in revenue, coming in at $20.8 million for the six months ending 31 December 2015.
In announcing its result for the half year period ended 31 December 2015, Rubik also indicated that its underlying EBITDA was up 17 percent to $2.6 million, from $2.2 million the year before.
Craig Coleman, Rubik chairman, said that Rubik's focus on integration and restructuring over the past 12 months was starting to yield benefits evident in our underlying results and outlook.
"Rubik has completed the restructuring and continues the rebuilding that was flagged this time last year and we expect that this foundation positions us well for profitable growth," he said.
"In addition to some important operational projects being completed, under the leadership of CEO Iain Dunstan, Rubik has significantly improved our customer focus across the company and recruited some key management talent."
Wealth products contributed 48 per cent of total revenue, Banking products contributed 34 per cent and Mortgage products contributed 17 per cent of total revenue.
Rubik's reported net loss after tax for the half year was $2.2 million and primarily a result of depreciation and amortisation charges and one-off restructuring costs. These items were partially offset by the positive Underlying EBITDA result.
"These costs were necessary in order for the Group to increase operational and cost efficiencies, and provide greater ability to scale and to standardise application deployment. The benefits of these efforts are expected to commence in H2-FY2016 and provide approximately $2.0m in annualised benefits from FY2017," the ASX statement said.
Total restructuring program costs of $4.8 million was $0.2 million less than the $5.0m originally expected. Rubik does not expect further restructure costs to continue into H2-FY2016.
Subscribe to our Newsletter
We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians
Your email address will be shared with nestegg and subject to our Privacy Policy
latest articles
OUR PLATFORMS AND BRANDS
- Accountants Daily
- Accounting Times
- Adviser Innovation
- Australian Aviation
- Broker Daily
- Cyber Daily
- Defence Connect
- Fintech Business
- HR Leader
- Independent Financial Adviser
- Investment Centre
- Investor Daily
- Lawyers Weekly
- Money Management
- Nestegg
- Property Buzz
- Real Estate Business
- Smart Property Investment
- SMSF Adviser
- Space Connect
- Super Review
- The Adviser
- Wellness Daily
- World of Aviation
EVENTS AND SUMMITS
- Accountants Daily 30 Under 30 Awards
- Adviser Innovation Summit
- Australian Accounting Awards
- Australian Aviation Awards
- Australian Broking Awards
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Space Awards
- Australian Space Summit
- Better Business Summit & Awards
- Broker Daily Business Awards
- Corporate Counsel Summit & Awards
- Cyber Security Summit & Awards
- Defence Connect Budget Lunch
- Defence Connect DSR Summit
- Fund Manager of the Year Awards
- ifa Excellence Awards
- ifa Future Forum
- Investor Daily ESG Summit
- Lawyers Weekly 30 Under 30 Awards
- Lawyers Weekly Women in Law Forum
- New Broker Academy
- Partner of the Year Awards
- REB Awards
- Reinnovate
- SME Broker Bootcamp
- SMSF Adviser Technical Day
- Super Fund of the Year Awards
- Women in Finance Awards
- Women in Law Awards
- Accountants Daily Podcast Network
- Australian Aviation Podcast Network
- Broker Daily Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- REB Podcast Network
- Relative Return
- Space Connect Podcast
- The Adviser Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- The Smart Property Investment Show
PODCASTS
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
LINKS
STAY CONNECTED
Subscribe to the Adviser Innovation eNewsletter.
