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CSG enhances services line-up

CSG enhances services line-up

Reveals eight per cent revenue increase for first half of FY16, but a slight NPAT drop

ASX-listed IT managed services provider, CSG (ASX:CSV) , has revealed an eight per cent revenue increase to $116.9 million for the first half of FY16 ending December 31.

EBITDA was up from $13.5 million to $13.8 million, but net profit after tax fell from $7.6 million to $7.3 million for the half year.

In a statement to the ASX, CSG said revenue was impacted to the tune of $4 million worth of orders that weren’t recognised in the first half due to some procurement delays in some non-print technology products.

During the first half of FY16, CSG launched its communications-as-a-service and in January it also released its total office bundle that provides customers with an integrated desktop and communications solution involving Cloud storage and core applications support.

“We now have a complete product suite capable of delivering a single source technology solution to our customers,” CSG CEO, Julie-Ann Kerin, said. “CSG customers can now source multiple products from one partner with one simple monthly bill and get access to state of the art technologies for minimal capital outlay.”

It also secured print-as-a-service contracts with four major universities and landed its first communications-as-a-service contract. It also won a spot on the QLD Government IT Services panel.

The company highlighted some of its main priorities for FY16, which included partnerships with innovative Cloud vendors within the business applications space, seeking out growth opportunities with potential ‘bolt-on’ acquisitions and continuing to develop its CustomerHub.

For the full financial year, CSG has forecast to achieve more than $255 million in revenue, representing 14 per cent growth on FY15.

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