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ASX-listed firm sees bump to total revenue year-on-year
An ASX-listed law firm has delivered its full-year financial results, detailing a boost to total revenue among other key figures.
Emma Musgrave
QANTM Intellectual Property (QANTM) is the first out of the ASX-listed law firms to post their results for the full financial year to 30 June 2021.
Also seeing an increase was QANTM’s total underlying expenses. Figures show the group recorded $68.4 million over the 12 months, marking a jump of 3.5 per cent (or $2.3 million). QANTM put the increase here down to numerous spend activity, including but not limited to an increase in employee benefits, the establishment of its US sales office, and investment in corporate resources and greater technology to support remote working arrangements.
Further, QANTM’s underlying EBITDA, after foreign exchange was $26.1 million, down from a neat million from the year prior. Statutory net profit after tax was recorded as $10.4 million, up 10.6 per cent from the year prior, while underlying net profit after tax was $12.2 million, down 9.6 per cent from the year prior.
Operating cash flow increased by 31.1 per cent to $19.8 million over the 12 months. Meanwhile net debt was $16.2 million as at 30 June 2021, down from $17.4 million as at 30 June 2020.
Commenting on the results, QANTM chief executive Craig Dower credited the group’s ability to adapt to an ever-changing pandemic environment.
“QANTM’s financial year 2021 results reflect the underlying strength of the QANTM business model,” he said.
“The team has continued to perform exceptionally well under continued challenges related to the COVID pandemic. Our continued emphasis on support for our people, including an emphasis on flexibility and wellness, has resulted in high engagement, excellent retention levels and the attraction of new talent.”
Mr Dower also put the group’s success down to the growth in patent applications, particularly in the Australian market where total applications grew by 9.7 per cent compared to the 2.4 per cent across total global figures.
“QANTM Group’s patent applications are at their highest levels since IPO in 2016 and have been accompanied by further growth in the market shares of DCC and FPA in Australia,” Mr Dower explained.
“Trade marks had continued growth, with DCC maintaining its leading market position. Legal services, after two strong prior years, had a slight moderation in overall revenues, mainly reflecting the timing of case load work in the second half of the financial year.
“Given the lifecycle characteristics in both patents and trade marks, QANTM is building a solid base of future revenue generation which flows through prosecution, advisory and renewal businesses, as well as associated legal and litigation services. It is our objective to broaden this revenue base through our business technology and business development activities, continued growth in our Asian presence, as well as targeted M&A.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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