Class Super reports 80 per cent growth for 2013
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.