In a market update, the company announced forecast earnings before interest, taxes, depreciation and amortisation (EBITDA) of $16.5 million for the 2012/2013 financial year – up 16 per cent on the previous year.
The company forecast unallocated expenses of $1 million for 2012/2013, bringing the operating EBITDA up to $17.5 million.
The operating EBITDA result comprised an $11.6 million contribution from the wealth management division; $10.2 million from Australian capital markets; $200,000 from financial services; and a $4.2 million loss from international capital markets.
The wealth management and Australian capital markets divisions increased their earnings by $2.4 million and $900,000 respectively, compared to the previous financial year. Financial services was steady at $200,000 and the international capital markets division increased its loss by $1.3 million.
Speaking to Investor Daily, GBST chief operating officer Patrick Salis pointed out that of the $4.5 million loss for the international capital markets division, $3 million was incurred in the first half of 2012/13.
“In the second half we had a loss of $1.5 million – so whilst overall it’s not a great result it’s certainly improving,” said Mr Salis.
GBST forecast a total revenue of $83 million, of which $50.5 million came from the Australian business and $32.5 million from the international operation.
GBST managing director Stephen Lake said the improved result was driven by “record new sales”, as well as the company’s expanding presence overseas and in Australia.
“While the environment for financial markets participants remains challenging, technology investment is being influenced by ongoing regulatory changes and subdued capital markets,” said Mr Lake.
“Our Australian business has performed well in what is still a difficult market and the ongoing strength of our position in Australia continues to provide a stable platform for further growth internationally,” he said.
