Diligent shares rise on profit surge

TOM PULLAR-STRECKER
Last updated 10:36 14/11/2012
DIL 5.740 -0.01 -0.17%
DIL

Click for a detailed chart

Relevant offers

Industries

Why faking your CV is a popular pastime Pager network to be switched off in 2017 Shanton rescued, but another fashion store Identity in liquidation Rocket Lab signs deal to work with Nasa FMA sues former Milford Asset Management portfolio manager PWC says Australian GST move makes level-playing field in retailing more likely Oracle called time on fruitless dalliance with Inland Revenue Don't blame us, blame the traders: Property Investors Federation Sir Peter Talley predicts grim future for jobs, education NZOG eyes potentially huge Barque oil and gas prospect

Shares in NZX-listed cloud software firm Diligent are on the rise again after the company reported a 145 per cent jump in third-quarter revenues to US$11.8 million (NZ$14.3m).

The company said it had at same time upped its gross profit margin to a record 78 per cent.

Revenues for the nine months to the end of September shot up from $11.5m to $30.2m. It also posted an $8m profit for the nine-month period, turning around a $119,000 loss.

Diligent operates in a niche market, providing software that lets company directors securely access board documents online rather than on paper.

After an extremely shaky start on the NZX following its 2007 listing, when its shares sank from their $1 listing price to a low of 7 cents, Diligent has become a stockmarket darling. Its shares were up 5 cents at $3.82 in early trading today after opening at $3.78.

The company signalled in August that it might start paying dividends by the end of the year.

It said in today's update that it had begun to work with financial advisers in the US to consider its dividend policy and "related capital market matters"

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content