Super IP, parent company of SMSF administration software provider Class Super, has reported an 80 per cent increase in revenue for 2013.
Following its annual general meeting yesterday, Super IP reported net profit after tax of $951,000, with group revenues at $5.56 million. Its market share also increased to 6.2 per cent, up from 3.2 per cent.
“This set of results exceeded all of our financial objectives and has maintained our three-year average growth rate of 5 per cent per month,” said Class chief executive officer Rajarshi Ray.
In his AGM address, chairman Barry Lambert also confirmed Super IP has brought forward its planned IPO timetable to 2015, from a previously stated 2016.
“Given continued positive business performance and high levels of market interest, Super IP now plans to conduct an IPO as soon as practicably possible after 30 June 2015,” Mr Lambert said.
“The board has also agreed that in the event of an IPO… priority allocation will be given to current Class customers, based on their contribution to Class revenues.”
Super IP has also announced the appointment of new chief executive officer David Smith, as reported by SMSF Adviser yesterday.
SUBSCRIBE TO THE SMSF ADVISER BULLETIN
News
- 26 Sep 2017ATO set to add new items to SMSF watch listBy Katarina Taurian
- 26 Sep 2017ATO tipped to scrutinise property development and unit trustsBy Jotham Lian
- 26 Sep 2017Statistics reveal full impact of events-based reportingBy Staff Reporter
- 26 Sep 2017Tax advice exemption discrepancy driving away accountantsBy Jotham Lian
- 26 Sep 2017Consultant flags strategies to negate complex ECPI calculationsBy Miranda Brownlee
- 25 Sep 2017Survey results point to major concerns with new reportingBy Miranda Brownlee
- view all
Strategy
ATO set to add new items to SMSF watch listThe tax office has outlined a series of new items of concern to its watch list of tax schemes and arrangements, several of which are clear a...read more
ATO tipped to scrutinise property development and unit trustsOne big four accounting firm says the ATO has started to zoom in on property development in unit trusts being held in SMSFs and the calculat...read more
Statistics reveal full impact of events-based reportingAnalysis conducted by SMSF software provider BGL Corporate Solutions has indicated that around 290,000 SMSFs will be affected by the events-...read more
Tax advice exemption discrepancy driving away accountantsA discrepancy in ASIC’s treatment of licensed and unlicensed accountants in relation to the tax advice exemption instrument is driving acc...read more
- view all