(PRWEB) September 06, 2006
Sydney, (PRWEB) September 6, 2006 -- RuleBurst Ltd (http://www.ruleburst.com), an Australian headquartered global provider of business rules and compliance software, today announced its results for the year ended 30 June 2006, with revenue lifting 106 per cent to $14.8 million, EBITDA climbing 1439 per cent to $5.03 million, NPBT of $4.1m, and NPAT turning strongly positive with a result in excess of $3.8m.
This exceptional result reflects the success of the company’s revised strategy of driving sales growth internationally while remaining focused on containing overheads since the appointment of a new executive team in December 2004. Through organic growth and the acquisition of IQMS in November 2005, it has added over 70 new customers globally across more than 10 industry sectors. RuleBurst is confident that revenue and profits will grow by at least a further 50 per cent in the next financial year, with over 60% of revenues and profits expected to be derived from international markets once again.
Surend Dayal, CEO of RuleBurst said, “RuleBurst was acquired and privatised for a net value of $12m in December 2004. The goal of the buyout team at the time was to refocus efforts on leveraging our world class technology in international markets. Our FY2006 results prove that the strategy is working and we are confident that we will continue to create further value for our customers and shareholders in the future.
“Over the past 12 months, we have also entered into formal sales and technical partnerships with major international companies including Microsoft, IBM and SAP to further enhance our international growth prospects. The fact that we have been able to secure these partnerships is testament to the quality of our technology solutions and their standing in the international market.”
“During the past financial year we hired over forty new staff across all lines of business and we are looking to add at least twenty new people by the end of the current year. This will include bolstering our sales team substantially to drive future organic growth. We will also look to utilise our strong financial position to pursue acquisitions globally.”
Over the past three years, RuleBurst has benefited from an Ausindustry grant that subsidises the company’s research and development activities. The support from Ausindustry has been instrumental to its success in the UK market, which is its biggest market, against better capitalised competition.
In April 2004, RuleBurst was granted $4.13 million by AusIndustry and the focused use of this grant helped RuleBurst to position itself strongly in the international business rules market, particularly in the area of business rule discovery and capture.
“RuleBurst has well established operations in the UK/Europe and Australasia and we have just secured our first major deal in the North American market. As we expand further in the much larger North American market, we hope that we will be able to again work with AusIndustry. The programs run by them are extremely important to Australia’s long term future, representing an investment in the massive potential for innovation in Australia. Continued engagement with Ausindustry will significantly de-risk the export process for companies like RuleBurst, enabling us to compete in international markets against larger competitors.”
Matthew Perrin, RuleBurst chairman, said, “Increasing regulation and the complexity of rules and compliance obligations are reasons for the global market growth for business rules and compliance software solutions. IDC estimates the market will grow at a compound rate of 22% per annum to be worth over US$20billion by 2009. RuleBurst is well positioned in an industry where there is a rare but attractive confluence of a large global market, high growth outlook and also a high degree of market fragmentation therefore presenting an opportunity to cement a position of market leadership globally”.
RuleBurst ‘s local customers include ANZ, Perpetual Trustees, Air New Zealand, Westpac, the Commonwealth Bank, Centrelink, the Department for Immigration and Multicultural Affairs, Toyota, Nestle, the ABC and the Department of Veterans’ Affairs. International customers include Her Majesty’s Revenue and Customs and the Ministry of Defence in the UK, and the Internal Revenue Service in the USA.
Current RuleBurst shareholders include Chairman Matthew Perrin (formerly CEO of Billabong International Limited), Vice Chairman Max Walsh (formerly the Managing Editor of the Australian Financial Review), Alan Dixon (Managing Director of Australia’s leading self-managed superannuation fund group, Dixon Advisory and Superannuation Services), Peter Guy (founder of Warrakirri Asset Management), Nick Barbato of PCI Equities and RuleBurst’s senior management including CEO Surend Dayal and CFO Kevin Chin.
RuleBurst is the only global supplier that provides world class business rules management (BRM) and also governance, risk and compliance management (GRCM) software and solutions. The company is uniquely positioned to deal with both sides of the regulatory environment; the definition and implementation of policy by government, and corporate compliance with those policies.
RuleBurst (http://www.ruleburst.com), was established in 1989 and has offices in Sydney, Brisbane, Melbourne, London and Washington DC. Its current Australian customers include the Department of Finance and Administration, the Department of Immigration and Multicultural Affairs, the Department of Defence, the Department of Veteran’s Affairs, Queensland Department of Housing, NSW Premier’s Department, Centrelink, The Treasury, The Board of Taxation, ANZ, Perpetual Trustees, Air New Zealand, Westpac, Commonwealth Bank, Toyota and Nestle . Internationally. its client base includes Her Majesty’s Revenue and Customs, the Small Business Service, Northgate Information Solutions, the Ministry of Defence, and numerous local government authorities in the UK; and the Inland Revenue Service in the United States.
For more information, please contact:
Surend Dayal, CEO RuleBurst
Mobile: 0423 577 651
Mia Huikuri, Recognition PR
Tel: 02 8259 7616
Mobile: 0404 625 945