Class Ltd posts “strong” growth in revenue and earnings in 2016/17

Class Ltd has posted “strong growth in revenue and earnings” for the 2017 financial year.

Class, which makes SMSF administration software Class Super, among other products, has released its full year results for FY17.

The company, which is listed on the ASX, had 37% growth in net profit after tax, and 39% growth in EBITDA.

Total revenue for the financial year was up 28%, “primarily driven by record growth in billable accounts” – which increased by 31,503 over 2016/17.

As at 30 June 2017 Class had 143,944 billable accounts, which includes 140,690 SMSFs – or 24% SMSF market share. The remaining accounts are on Class Portfolio.

Class Ltd CEO, Kevin Bungard, said: “These positive financial results have been driven by the continued strength of the SMSF industry despite the disruption caused by the recent super reforms. Class’ financial performance demonstrates a strong business which continues to grow and remains well positioned to take advantage of the new business opportunities as they arise.”

Class Ltd declared a final FY17 dividend of two cents per share, fully franked, payable on 5 September 2017. This is part of the transition by the company to half-yearly dividend payments. Earnings per share were up 31% to 6.8 cents per share.

The Class Limited Annual General Meeting will be held on 16 October 2017 in Sydney.

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