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MYOB - takes on Xero

MYOB CEO Tim Reed says MYOB Advisor is the first step towards helping accountants, bookkeepers and their clients to unlock more of their business goals. “We know that accountants and bookkeepers want to grow their advisory services, and MYOB Advisor is one way they can offer greater value to their clients. “MYOB Advisor frees accountants and bookkeepers’ time while also assisting with actionable business outcomes.”

MYOB has announced the launch of MYOB Advisor, a unique artificial intelligence (AI) enabled tool designed to revolutionise the way accountants and bookkeepers advise their clients. MYOB Advisor is integrated into the platform that partners currently use and turns data into written sentences to simply explain business performance.  BusinessEdge 

MYOB announces full year results for the period ending 31 December 2017

MYOB Group Limited (MYOB, ASX: MYO), a leading provider of online business management solutions to Australian and New Zealand businesses, is pleased to announce its financial results for the 12 months ended 31 December 2017.


• Solid financial results delivering double-digit growth across all key financial measures
• Record online subscriber growth (up 60 per cent), driven by new SME wins, the highest ever online migration rate from active non-paying users and strong growth in online practice ledgers
• Customer lifetime value of subscriber base continues to increase with improvements in ARPU, retention rates and the uptake of Connected Services
• Delivery of the Connected Practice vision and focused investment in the MYOB Platform is generating real efficiencies and savings for SMEs and Advisers and driving rapid uptake in MYOB’s online practice tools
• MYOB’s new Payments segment opens up a $1.2 billion market opportunity; with Enterprise Solutions now recognised as the #1 ERP provider1 in Australia and New Zealand in its segment
• Strong balance sheet and efficient capital management generating $73 million in capital returned to shareholders in 2017; net debt below 2.0x EBITDA
• Positive trajectory continues, with a regulatory decision on the acquisition of Reckon’s Accountant Group assets expected in 2Q18
• On track to reach one million online subscribers in Australia and New Zealand by 2020

Financial Summary
Revenue for the 12 month period increased to $416 million, up 12 per cent on the prior year (13 per cent on a constant currency basis2 ), and underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew to $190 million, up 11 per cent on prior year. MYOB’s preferred measure of after tax profit, NPATA3, was $102 million, up 10 per cent on prior year, with associated NPATA earnings per share of 16.9 cents, up 8 per cent on prior year.





CHANNEL NEWS: Accounting software company MYOB this week plans to launch a new artificial intelligence powered tool as it ups the stakes in its marketplace battle with NZ-based Xero, now being run by Australian Steve Vamos, a former Microsoft Australia chief

SIMPLY WALL ST: Important news for shareholders and potential investors in MYOB Group Limited (ASX:MYO): The dividend payment of A$0.06 per share will be distributed into shareholder on 05 April 2018, and the stock will begin trading ex-dividend at an earlier date, 08 March 2018. Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine MYOB Group’s latest financial data to analyse its dividend characteristics.

: MYOB takes on Xero with AI adviser product for accountants