Diligent shares rise on profit surge

TOM PULLAR-STRECKER
Last updated 10:36 14/11/2012
DIL 5.140 0.14 2.80%
DIL

Click for a detailed chart

Relevant offers

Industries

Real estate agents charging by the hour Greasies a weekly treat for a lifetime No turkey leftovers for spendthrift Kiwis Fish and chips take a battering Safety concerns close Lyttelton Port at night Tackling fishhooks of retirement village life Anti-miners prepare court case Technical problems delay Warehouse Boxing Day sale Boxing Day madness: Trolley shortage and shoppers fainting Sparks fly over 4G coverage ad claims

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