No nasty surprises, says MYOB

ACCOUNTING software maker MYOB has assured investors there will be no nasty surprises when it hands down its half year results.
The company has reaffirmed expectations that it will deliver a 13 per cent year-on-year increase in revenue for the six months to June 30, as well as earnings before interest, tax, depreciation and amortisation (EBITDA) of more than $37 million.
It also gave an upbeat assessment of its prospects in the second half.
In a statement to the Australian Securities Exchange, MYOB said that its first half new software sales are on track to rise 15 per cent over the previous corresponding period.
Maintenance revenue is on track to improve 13 per cent and the company's Asian business is expected to deliver revenue growth of 40 per cent following a successful rebranding exercise in the region.
"Indications for the second half are excellent, with new software and services in particular expected to lead the growth," MYOB's chief financial officer, Simon Martin said.
"I'm pleased to confirm that MYOB is continuing to perform to plan in terms of revenue and EBITDA growth across the business, and is on track to deliver results for the full year in line with guidance given in February.

"Importantly, our investments in a number of new and exciting initiatives are beginning to take shape, which will help deliver on our long-term vision for the business."

Mr Martin said that MYOB made a $1.6 million investment in its China business during the first half of the year. It also funnelled an additional $600,000 in capital into its Accountants Resourcing division.