Objective Corporation released its half-year financial report that shows an increase in after tax profits of 156 per cent on the same period last year.
The content, collaboration and process management solutions provider reported a net profit after tax of $2.1 million in the half-year to December 31, 2013. This figure was a dramatic increase from $800,000 in the previous corresponding period.
Objective's client base exists mainly but not exclusively within the public sector. It has clients at the federal, state and local government level in Australia and New Zealand. Its clients include the Australian Department of Defence, the ACT Planning and Land Authority, and Auckland Regional Council.
Objective Corporation CEO, Tony Walls, attributed the increase to significant demand for the company's portfolio of solutions in all levels of government, and from port authorities.
"Increasingly, Objective is being recognised for its achievements in the marketplace and we are seeing sustained demand from customers who are replacing competitor systems with Objective's next generation solutions."
Walls described Objective as "the solution of choice for the Australian ports market", and pointed to the recent agreement with the Geraldton Port Authority as evidence of this. Objective also lists the Newcastle Port Corporation and the port of Brisbane as some of its major clients.
The company reported an increase in revenue of 14 per cent from the first half of 2013, to 21.7 million up from $19 million. This includes increases in Asia-Pacific of 14 percent and 20 per cent in Europe.