Reckon still keen to buy

Australian diversified financial software maker Reckon today said it would continue to pursue acquisitions as the company kept on growing.

"Our results sustain our faith in our strategy to build organic growth, to widen the product and service offering to our customers and to pursue complementary acquisitions," the group said in a statement to the Australian Securities Exchange this morning as it announced its half-year financial results.

The company's current attempt to buy portions of corporate support firm Espreon through bidding partner Vectis has hit a bump in the road, with Vectis reducing its offer amount for Espreon following due diligence.

"Discussions continue between all parties," Reckon said today.

In general Reckon, one of the largest Australian-owned software companies, is continuing to grow, reporting revenues up 11 per cent to $31.5 million for the six months to June 2008 compared with the previous corresponding period. Net profit after tax grew 12 per cent to $5.6 million.