SYDNEY, AAP – Software vendor Objective Corporation, which caters to government agencies, has forecast a 70 per cent rise in net profit for its first-half.
The firm on Friday said a net profit after tax of $7.2 million was expected for the six months to December 31, a hefty rise on the same six months of 2019.
A boost in sales, expected to be 40 per cent, will provide $46.5 million revenue.
Objective chief executive Tony Walls said he expected the strong momentum to continue for the full financial year.
The company bought software group Itree, which also makes products for government, last year for $18.4 million.
Shares earlier fetched a record $14.50.
At 1140 AEDT, they were higher by 3.77 per cent to $13.49.