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MYOB TO EXPAND GREENTREE CHANNEL Featured

MYOBAustralian software company MYOB plans to expand its channel of Greentree resellers. MYOB purchased Greentree in June. In a shareholder presentation about financial results for the first half ended December 31, MYOB noted plans for increased marketing and sales efforts with increased online efforts.

That, the company said, "Enables MYOB to apply its marketing and distribution resources to accelerate growth through the existing Greentree channel." MYOB said its enterprise products, MYOB Advanced, MYOB Exo and Greentree all performed well. MYOB Advanced is based on the Acumatica platform. Greentree has a small channel—the only reseller in the United States is Crestwood Associates. Other than its still small Greentree effort, Acumatica operates only in Australia and New Zealand. Net profit for the first half was about $19 million, compared to a loss of approximately $49.1 million in last year's corresponding quarter. Revenue for the most recently ended period of roughly $134.5 million was 11 percent higher than a year earlier. Enterprise revenue was about $16.4 million, up 9.6 percent. Most revenue comes from small businesses. MYOB reported it had 570,000 paying customers at the end of the half, an 8-percent increase over the prior year's total. SME revenue for the half hit about $85.1 million, a 14-percent increase.

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