Reckon announces share buyback scheme

The listed accounting software provider is doing a buyback as part of its capital management strategy after posting a 10% jump in net profit for the half-year.

Listed accounting software provider, Reckon, is buying back up to 10%, or more than 129 million, of its shares, after posting a 10% jump in net profit after tax (NPAT) for the half-year ending June 30.

The company, which has posted NPAT of $10.2 million for the period, said that it was generating “strong operating cash flow” and the share buyback was part of its capital management strategy.

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