Gentrack confirms gain in full-year profit, lifts final dividend
"We expect to continue to deliver long-term revenue and ebitda growth of 10 %-plus a year" – Ian Black
Gentrack Group has confirmed a 3% gain in full-year profit and bumped up its final dividend as margins widened.
The utilities software developer said pre-tax earnings are expected to grow 10% in 2017.
Net profit rose to $9.6 million in the 12 months ended September, from $9.4 million a year earlier, the company says. Sales jumped 25% to $56.7 million.
Gentrack first flagged its full-year results in summarised form in early November. It had a 16% gain in earnings before interest, tax, depreciation and amortisation to about $16.7 million, beating its guidance.
It will pay a final dividend of 7.7c a share, up 7.2% from a year earlier.
"We enter FY2017 with a solid order book and a pipeline of opportunities and we expect to continue to deliver long-term revenue and ebitda growth of 10 %-plus per annum, albeit that our results may be impacted by the timing of projects," chief executive Ian Black says.
The shares rose 2.6% to $3.50, having gained 36% so far this year.
The stock was punished after releasing a major profit warning five weeks after listing which earned it a rebuke from the Financial Markets Authority which said the company could have been clearer when flagging certain risks.
The share price has recovered since September last year and is now trading above its 2014 initial public offering price of $2.40.
Gentrack shares rose 2% to $3.52 and have climbed 41% this year, outpacing an 8.3% gain in the S&P/NZX 50 Index.
(BusinessDesk)
Jonathan Underhill
Thu, 24 Nov 2016
Thu, 24 Nov 2016
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Gentrack confirms gain in full-year profit, lifts final dividend
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