Terrorism, money laundering and fraud are the kind of crimes to send a shiver down the spine, but for data analytics company Veda, they're only adding to the bottom line.
The credit information and marketing analytics group, which holds records on every company and adult consumer in Australia, bounced back into the black with a net profit of $38.1 million for the six months to December 31.
Revenues rose 11 per cent to $163 million.
Chief executive Nerida Caeser says one of Veda's key growth areas has been working with businesses who must comply with new requirements of the Anti-Money Laundering and Counter-Terrorism Financing Act, which combats terror financing and money laundering.
"This requires a more in-depth verification of people who own and control businesses," she said on Wednesday.
"Regulation is always a driver - we help our customers work through these processes."
Demand for those services helped Veda's consumer risk and identity division lift revenues by 8.7 per cent.
The division also helps companies and individuals with fraud detection, which Ms Caeser said was another growing area.
"The business around fraud, despite efforts of industry, continues to morph itself. We have to therefore make sure we are bringing products and services into the market," she said.
"We have products that now extend down to the consumer side - (you are) able to watch your identity and know if it's being compromised."
But the biggest growth for Veda came from its data driven marketing services business, which helps business clients to understand their customers.
That division lifted revenue 30 per cent, aided by strong performances by its automotive data website carhistory.com.au and its consumer credit offerings.
Veda shares fell four cents to $2.31.
DATA EXPERT VEDA LIFTS PROFIT
* Net profit of $37.8m, compared to a $12.6m loss a year ago
* Revenue of $163m, up 11 pct from $146.8m
* No interim dividend paid
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