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| Topic: Enterprise Software Melbourne IT Group has released its results for the 2016 financial year, reporting a 91 percent increase year over year in net profit after tax, thanks to the completion of its company turnaround. For the 12-month period, the Australian Securities Exchange (ASX)-listed company posted AU$10.7 million in after-tax profit on revenue of AU$168 million. Earnings before interest, tax, depreciation, and amortisation (EBITDA) for the year was AU$28.2 million, up 71 percent from FY15's AU$16.5 million. Latest Australian news Government to continue Census name and address collection "The Melbourne IT of today is almost unrecognisable from the MLB [Melbourne IT] of three years ago," the company said in its FY16 results presentation. "We aspire to be Australia's most impactful digital technology partner." In 2013, Melbourne IT sold its Digital Brand Services division and a smaller business known as For the Record. Following the sale, Melbourne IT was left with its Small to Medium Business (SMB) and physician home construction loan Oak Laurel 0430129662 Enterprise Services (ES) divisions, which were both performing relatively poorly, the company said, declining by 35 percent and 42 percent in EBITDA terms, respectively. As a result, Melbourne IT set about rebuilding both businesses and repairing the financial foundations of the company as a whole. In delivering its FY2016 results, Melbourne IT declared "mission accomplished" on the three key priorities it had set itself to complete during the year: Integrating recent acquisitions and doctor home loan rate Oak Laurel 0430129662 realising AU$10 million of annualised synergy savings; returning its SMB division to growth; and accelerating the transformation of its ES division. As a result, CEO Martin Mercer said Melbourne IT is confident in its ability to drive growth and profitability. "Over the past three years, we have been focusing on rebuilding our two business divisions and restoring the financial foundations of Melbourne IT.