Australia's TechnologyOne hits record high on half-year profit beat

(Reuters) -Shares of Australian enterprise software provider TechnologyOne climbed to an all-time high on Tuesday, after it posted first-half earnings above analyst expectations.

The stock climbed 12.7% to trade at A$37.2 per share as of 3000 GMT. It emerged as the top percentage gainer on the ASX200 benchmark index, which rose 0.5%.

The cloud services firm reported a pre-tax profit of A$81.9 million ($52.77 million) for the six months ended March 31, comfortably surpassing the A$77 million consensus estimate compiled by Visible Alpha.

It posted pre-tax profit growth of 18% fiscal 2024, and forecast pre-tax profit growth of 13% to 17% for fiscal 2025.

($1 = 1.5521 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru; Editing by Janane Venkatraman)

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