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Empired posts jump in net profit, revenue

Empired posts jump in net profit, revenue

Revenue mix to include higher margin services pays off

Australian IT Services Company, Empired Ltd., has posted a 79 per cent increase in net profit after tax (NPAT) to $1.2 million for the first half.

Its revenue for the period stood at about $26 million up nine per cent from last year; its Ebitda rose 65 per cent to $2.3 million compared to the same period last year.

Founded in 1999, the ASX-listed Empired has offices in Melbourne and Brisbane and a team of over 300 employees.

Empired Managing Director, Russell Baskerville, said that Empired has had a strategy to shift its mix of revenue to higher margin services, which has translated into its revenue growth of 58 per cent compared with the previous corresponding period.

He said the company’s growth in services revenue is attributable to contracts with large existing customers and new managed services clients.

"Over the previous years we have invested strategically to allow Empired to successfully compete in multi-year, multi-million dollar managed services opportunities,” he said. “We are now reaping the benefits of this investment with improved margins, higher levels of contracted income and the strongest sales success in major services deals in the company’s history - with a further $100 million in identified qualified contracts available in the next six months.”

Empired is also targeting the utilities sector, where we are seeing strong forward demand, he said. Empired is continuing to invest in evolving its service offerings, with a key focus on Cloud computing services. Its managed services business, now across both applications and infrastructure, remains a key differentiator and growth engine.

During the half year, Empired acquired Conducive Pty, a specialist consulting and applications firm in the energy and natural resources sector.

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