Menu
Jade Software lifts with strong 2018 result

Jade Software lifts with strong 2018 result

Total sales and profits lift in year to 31 December 2018

Charlotte Walshe (Jade Software).

Charlotte Walshe (Jade Software).

New Zealand software pioneer Jade Software has reported a strong 2018 result with both sales and profits lifting strongly.

Sales increased from $33.1 million to $41 million in the year to 31 December while net profit lifted from $2.2 million to $7.1 million.

The result, which improved Jade's cash position was driven by performance across the business, chair Sue Suckling and CEO Charlotte Walshe reported in their joint report.

Several large projects in the UK  and "careful management of costs" also made a difference.

2019 strategy is built around three aims - growing the customer base and margins, developing excellence in processes and tools and aligning the business to 2021 - 2026 growth strategies.

Jade has been developing its AI expertise and capabilities as part of those changes.

Jade said it intended to grow and invest in both Australia and the UK in both services and anti-money laundering software while expanding in New Zealand into insurance and AI such as digital employees.

Total equity lifted from $9.5 million to $16.4 million while current assets increased from $12 million to $15.8 million.

In the late 1990s, Jade emerged as a leader in object oriented database development and built products around that for clients in Australasia and the UK. 

Its expansion plans stalled, however, and the company is now almost entirely owned by one of its major customers, the UK-based Skipton Building Society.

Jade also built software to help manage mixed cargo ports. That is now a separate, US-owned business called Jade Logistics.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Jade Softwareannual resultjade

Brand Post

How to become the best IT MSP

This article provides guidance for managed service providers (MSPs) that want to grow their business. It is also useful for any IT service provider looking to move from the break-fix model to managed IT services.

Featured

Slideshows

Reseller News Platinum Club celebrates leading partners in 2019

Reseller News Platinum Club celebrates leading partners in 2019

The leading players of the New Zealand channel came together to celebrate a year of achievement at the annual Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months.

Reseller News Platinum Club celebrates leading partners in 2019
Reseller News hosts alumnae breakfast for Women in ICT Awards

Reseller News hosts alumnae breakfast for Women in ICT Awards

Reseller News hosted its second annual alumnae breakfast for the Women in ICT Awards in New Zealand, designed to showcase the leading female leaders in the industry. Held at The Cordis in Auckland, attendees came together to hear inspiring keynotes and panel discussions, alongside high-level networking among peers. Photos by Gino Demeer.

Reseller News hosts alumnae breakfast for Women in ICT Awards
Reseller News Innovation Awards 2019: meet the winners

Reseller News Innovation Awards 2019: meet the winners

Reseller News honoured the standout players of the New Zealand channel in front of more than 480 technology leaders in Auckland on 23 October, recognising the achievements of top partners, emerging entrants and innovative start-ups.

Reseller News Innovation Awards 2019: meet the winners
Show Comments