In a results announcement on the ASX website, Rubik said net profit after tax rose to $6.3 million, with a one-off income tax benefit on initial recognition of the group’s deferred tax asset contributing to the increase.
Rubik said the wealth business was the main driver of growth, with revenue increasing 59 per cent to $20.1 million.
The revenue reported reflects the uplift resulting from the COIN acquisition in financial year 2013 but is yet to “fully reflect the uplift from recent growth investments and migration of key accounts to a hosted solution for COIN”, Rubik said.
Revenue for the mortgage business was limited, however, due to the timing of acquisitions completed in June 2014.
Rubik said the banking business saw a four per cent decline in revenue to $9.9 million over the period as a “consequence of significant investment into core banking tenders, and no new implementation projects in the second half of the year”.
Chief executive Niek Hoogenhout said this was another strong result for Rubik, “capping what was a very successful year”.
The company is on track to achieving its “vision of becoming an ASX300 company”, Mr Hoogenhout said.
