MYOB 1H16 Results Investor Presentation
Sydney, Aug 25, 2016 AEST (ABN Newswire) - Myob Group Ltd (
ASX:MYO) are pleased to provide the Company's latest 1H16 Results Investor Presentation.
1H16 Highlights - the MYOB transformation story continues
STRONG FINANCIAL PERFORMANCE
- Grew revenue 11% and achieved final prospectus targets
SUCCESSFUL UPTAKE OF CONNECTED PRACTICE STRATEGY
- Taking accountants to the cloud - initial modules of MYOB Platform successfully launched
- Accountants still in early stages of cloud journey
- Connected Practice strategy expected to drive overall online category penetration
CONTINUED SME GROWTH FROM NEW AND EXISTING CLIENTS
- 8% growth in SME paying users
- 37% growth in online SME users
- Increasing online conversion rate of non-paying user base
- Online connected services growing quickly
INVESTMENT IN MYOB PLATFORM AND BRAND
- 15.7% of revenue invested in R&D
- Key R&D focus is MYOB Platform delivery
- Ongoing investment in brand marketing & new marketing technology platforms
- Opened new tech hub in Richmond
ACQUISITION TO FURTHER GROW ENTERPRISE SHARE
- Acquired Greentree for NZ$28.5m, extending MYOB's mid-market leadership into larger enterprises
MYOB Outlook
- We expect revenue growth for the rest of FY16 to be in line with historical trends, and EBITDA margins to remain in the 45%-50% range
- The Connected Practice strategy, underpinned by the MYOB Platform, is expected to drive online category penetration
- As investment in the MYOB Platform continues, FY16 R&D is expected to be at the upper end of the previously stated 13%-16% revenue range
- We continue to look for and expect to make targeted acquisitions which fit in the core of our business, and investment in new growth opportunities outside of our business
To view the full 1H16 Results Presentation, please visit:
http://abnnewswire.net/lnk/5S458070
About Myob Group Ltd
MYOB Group Ltd (ASX:MYO) is a leading provider of online business management solutions. It makes business life easier for approximately 1.2 million businesses and accountants across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across three core segments – Clients and Partners (business solutions to SMEs and Advisers); Enterprise Solutions (larger businesses) and Payment Solutions. It provides ongoing support through client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly through its Connected Practice Strategy and through the development of the MYOB Platform. For more information, follow @MYOB on Twitter or visit https://investors.myob.com.au/Investors
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