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Empired announces full year earnings of $2.61m

Empired announces full year earnings of $2.61m

Credits the success to the introduction of its specialised Cloud Services offering FlexScale

IT services company, Empired (ASX:EPD), recently announced its full year EBITDA of $2.61 million, an increase of 103 per cent when compared with the same time last year.

Its net profit after tax grew by 531 per cent to $1.3 million, delivering fully diluted earnings per share of $0.022.

The results follow a string of new contracts and the recent announcement of its acquisition of Western Australian IT consulting services provider, Conducive, for $7.95 million.

The company credited the success to the introduction of its specialised Cloud services offering, “FlexScale”, which it claimed was a major factor in its increased revenue to $44.7 million – up 12 per cent.

“The transformational shift toward Cloud computing is now upon us. This strategic investment has placed us ahead of the curve and ensures we are well positioned to benefit as the consumption of IT services shifts to a Cloud based model,” Empired managing director, Russell Baskerville, said.

Looking forward to the new financial year, Empired will be looking to grow its contracted recurring income through its managed services contracts.

“In addition to our ongoing investment in expanding our managed services and operational capabilities, Empired is committed to strategic investments in Cloud computing, application services and building domain expertise in energy and natural resources,” Baskerville said.

He is confident that with sound financial performance, a strong business model and a range of key strategic investments, Empired will deliver further revenue, earnings and earnings per share growth in the year ahead.

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