Technology One (TNE) price fluctuates on 1st half report
TNE +2.11%: the SaaS business presented half year numbers to the market, the stock closed higher though gave up ground intra-day. The numbers were solid, TNE talked up their exposure to the public sector with strength in sales to the Federal Government. They also talked to strength in the UK which is starting to find its feet as more of the population gets vaccinated. Annual Recurring Revenue (ARR) was up 41% in the half, and profit up nearly 50%. They guided to pre-tax profit of $94.3-98.6m, very much in line with expectations.
