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AUSTRALIA'S MYOB EXPECTS 2004 REVENUE TO JUMP 40 PCT.
SYDNEY, Nov 1 Asia Pulse - Accounting software provider MYOB Ltd (ASX:MYO) said today it is expecting 2004 revenue to grow around 40 per cent year-on-year to $A124 million ($US92.71 million).
Earnings before interest, tax, depreciation and amortisation (EBITDA) margins before restructuring costs would be about 35 per cent for the full year, with an increase in margin expected in 2005, MYOB said.
The Accountants Division of MYOB was expected to represent over 45 per cent of group revenues in 2005, MYOB said.
MYOB added that its merger with Solution 6, which was completed on August 17, was running smoothly.
The integration process had confirmed the synergies identified during due diligence and outlined in the Explanatory Memorandum circulated as part of the merger, it said.
These synergies of $A10-12 million per annum would be achieved within three years from completion of the merger.
The revenue forecast for the 2004 calendar year included MYOB's sale of Pollak Learning Alliance, which ...
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