GBST (GBT), Australia’s largest provider of securities transaction technology, is pleased to announce its unaudited results for the 9 months ended 31 March 2006.
- Operating revenues of $19.26 million up 14.7% on the prior comparative period (“pcp”)
- EBITDA of $6.3 million up 63% on the pcp
- Results driven by new business, increased consulting revenue and continued growth in equities trading volume
- Trading volume market share increases to 40% from 32% in the pcp
- Cash reserves of $8.7 million and no borrowings
Results Summary
$'000
| |
Qtr 3 |
YTD |
| FY'06 |
FY'05 |
% Inc |
FY'06 |
FY'05 |
% Inc |
| Operating Revenue |
6,853 |
5,681 |
21% |
19,265 |
16,789 |
14.7% |
| Operating Expenses |
4,368 |
4,457 |
-2% |
12,967 |
12,928 |
0.3% |
| EBITDA |
2,485 |
1,224 |
103.0% |
6,298 |
3,861 |
63.1% |
| EBITDA Margin |
|
|
|
32.7% |
23.0% |
|
CEO Mr Stephen Lake said: ‘This strong result – with Q3 EBITDA up 103 per cent over Q3 of 2005 – validates our strategy to reinforce our position through continuing product improvement and to broaden our product range and customer base through selected acquisitions.
‘Our 21 per cent increase in Q3 revenue reflects new business, buoyant equity trading, increased consulting activity and the contribution of the Palion derivatives business acquired in December. At the end of March approximately 40 per cent of ASX equity trading volume was processed by GBST clients, up from 32 per cent last year. We also succeeded in holding costs stable, which saw our operating margin increase to 32.7 per cent.’
‘Cash flow from operations remained strong and our cash reserves grew to $8.7 million at 31 March, partly due to prepayment of customer license fees. The company has no debt.
‘Prospects for the remainder of calendar 2006 are encouraging, with a strong pipeline of software development projects and the introduction of a new product scheduled for the second half of the year.’
GBST is announcing its Q3 results so the market is aware of its earnings growth, especially following the recent acquisition of Palion.
About GBST
Established in 1983, GBST (Global Banking and Securities Transactions) is the largest provider of securities transaction processing in Australia and a leading provider of transaction solutions for the financial services industry.
Specialising in the provision of robust trading and settlement systems, GBST changed the face of the industry in 1993 when it released GBST Shares™, the first system to fully integrate with CHESS, the Australian Stock Exchange’s electronic settlement system.
Working with our clients, GBST has facilitated a number of market firsts including: automated clearing and settlement, third party clearing and real time Margin Lending.
GBST provides solutions for a wide variety of market participants including: global investment banks, custodians, clearers, stockbrokers, exchanges, margin lenders, and cash management providers.
With offices in Brisbane, Sydney, and Melbourne, GBST has over 130 staff committed to providing advanced transaction solutions.
www.gbst.com
For Further Information Contact
Stephen Lake
Managing Director/CEO
GBST Holdings Limited
Phone: + 61 7 3331 5555
Email: stephen.lake@gbst.com
Kieran Wallis
CFO
GBST Holdings Limited
Phone: + 61 7 3331 5555
Email: kieran.wallis@gbst.com
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