ASX-listed IT services company, UXC, has reported a record net profit of $3.9 million after another six months of its aggressive acquisition strategy.
For the period ending December 31, 2003, the company earned a net profit of $3.969 million, up 39 per cent from the previous corresponding period. The company also announced revenue of $87.1 million, up 82 per cent.
During the half, UXC also finalised six acquisitions.
Joining the company’s business solutions group are training organisation, i-Training Solutions, voice and data product supplier, Lanlink, and Trade Winds, an emergency services communication specialist.
The company also acquired Oracle solution and consulting service provider, Red Rock Consulting, maintenance and inspection service provider, Aerial Hoisting Services, and contract meter reading and related utilities service provider, Skilltech Consulting Services.
UXC's business solutions group, which competes in the IT services space, performed well despite what the company described as a difficult market.
The division, which includes Oracle-specialists, Red Rock Consulting, Microsoft Business Solutions specialists, Eclipse Computing, network integrator, Integ Communications, and storage specialists, XSI Data Solutions, was expected to expand further through more acquisitions, the company said.
"Future growth will come from further acquisitions, a full-year contribution from recent acquisitions, continued development of synergies between business units and divisions, and futher organic growth within business units as their market power, brand recognition and quality of service continue to develop," the company said.
The report claims that the company’s financial position “remains robust”, with $5.9 million in cash and $8.6 million in investments.