Total revenue for the half-year to December 2013 was $49 million – up 18 per cent on the prior corresponding period.
GBST employs 450 people worldwide and has offices in Australia, Asia, Europe and the United States. It derives a majority of its revenue from its two 'flagship products', GBST Syn~ and GBST Composer.
The company recently expanded into Vietnam with the development of an offshore centre that already employs 35 people, GBST said.
Managing director Stephen Lake described the half-year as “solid” and in line with the company's growth strategy – in spite of the tough environment.
“A highlight was the selection of GBST Syn~ by one of the world’s largest banking and financial services organisations and this firm is already providing third-party clearing services to the broker-dealer community globally,” said Mr Lake.
“Compared to this time last year, international sales of Syn~ have doubled and we have strengthened our business development teams substantially.
“While wealth management sales continued to grow in Australia and the United Kingdom and we maintain a strong order book and sales pipeline, competition has increased. Margins were lower, reflecting our investment in product development to support growth,” said Mr Lake.
“The strength of our Australian operations and annuity licence income, which provides nearly two thirds of total revenue, ensures that we have a strong foundation for global growth.”
