Rubik poised for favourable half year results
Ahead of the release of its half yearly results, Rubik Financial says it expects growth to stem from its banking and wealth segments.
In a statement, Rubik said its first half result is likely to be up more than 20 per cent on the previous guidance of $2 million in underlying earnings before interest, taxes, depreciation and amortisation (EBITDA).
Rubik chief executive Iain Dunstan said he is "pleased" with how the results are looking, particularly because the growth is coming from the business' banking and wealth arms.
"We have strong pipelines across the banking and wealth segments, and expect to announce new contract wins in both of these areas in the near future," Mr Dunstan said.
In addition to the results update, Rubik chief financial officer Darius Coveney announced the company has renegotiated its debt facilities with Westpac. The renegotiation extends the term of the current debt facilities to January 2019 on an interest only basis.
Mr Coveney said Rubik has signed an additional facility with Westpac. This will fund its recently expanded Temenos engagement to provide digital banking products to mid-tier authorised deposit-taking institutions (ADIs).
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