DWS Limited H1 net profit after tax down 13 per cent

Company made “several staff redundancies" in Victoria and South Australia

ICT services company, DWS Limited, has posted a 13 per cent drop in its net profit after tax on revenue of about $55.4 million in the first half.

Its revenue stood at $55.4 million, up slightly from the previous year; its first half Ebitda dipped about 15 per cent to about $11.9 million.

DWS management attributed the decline to the fall in demand for services in the second quarter, which the company has tackled in part by making “several staff redundancies in Victoria and South Australia,” according to the company’s ASX filing.

DWS reported total consulting staff of about 613, down from 620 in June 2012.

Its balance sheet is still strong with no debt, and cash of about $11.5 million.

In December, the company also completed the acquisition of Apt Business Solutions, a provider of outsourced application managed services to Federal agencies, for about $5.7 million.

The company expects its joint venture with Borealis Australia, Borealis DWS Consulting Services, to help its Queensland business, and boost further demand there.

Sponsored Content: Collaboration has become the new movement in IT. Servers will become an integral part of this industry transition. Click here to learn more.

Join the ARN newsletter!

Error: Please check your email address.

Tags ICT servicesDWS

 

Latest News

03:43PM
Androids will greet guests at Japanese smart hotel
12:49PM
Wi-Fi growth set to drive sales of new Ethernet speeds
12:35PM
Flying high, Apple readies Watch to ship in April
11:59AM
Windows 10 Spartan browser will get extensions
More News
05 May
CeBIT Australia 2015
27 May
World Business Forum Sydney
View all events