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AUSTRALIA'S MYOB LTD EXPECTING FY PRE-TAX EARNINGS TO GROW 50%.
SYDNEY, May 1 Asia Pulse - Accounting software company MYOB Ltd (ASX:MYO) has maintained its full year outlook, predicting pre-tax earnings to grow by at least 50 per cent in 2003.
The company yesterday said it was expecting revenue to grow at a similar rate to 2002, with an EBITDA (earnings before interest, tax, depreciation and amortisation) margin greater than 34 per cent.
MYOB chairman Graeme Pearson told today's annual general meeting in Melbourne its customer base had already increased by more than 20,000 so far this year.
"We have achieved a strong start to the year with excellent results in Australia, New Zealand and Malaysia more than offsetting weaker performance in the USA, Hong Kong and Singapore," Mr Pearson said.
"A highlight of the Australian performance has been the lift in market share for SME (small to medium enterprise) accounting software by value from 61 per cent for the first quarter of 2002 to 69 per cent for the comparable period this year."
Mr Pearson said the company had ...
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Source: HighBeam Research, AUSTRALIA'S MYOB LTD EXPECTING FY PRE-TAX EARNINGS TO GROW 50%.