The company, which also provides portfolio administration services, posted a net profit after tax of A$4.4m after recording a loss last year of A$3.9m.
In September last year Praemium bought WealthCraft, a Hong Kong based provider of customer relationship management technology. In the same month it announced plans to acquire BlackRock’s separately managed accounts (SMA) business, a deal which was completed in December.
Praemium chief executive Michael Ohanessian said: “I am very pleased with the significant progress made by the Company during the year. We have delivered on strategies for growth with two important acquisitions, plus launched new products into both the Australian and UK markets.
“The acquisitions of WealthCraft and BlackRock’s SMA platform add key building blocks to our existing product suite, with the returns on these investments already evident. With a strong uplift in profitability during the second half of FY2013, we expect these acquisitions to be highly accretive in FY2014 and beyond.”
