sWA-based IT services company, Empired (ASX:EPD), has pointed to acquisitions and growth across its managed services business as key drivers for its strong financial results.
The company announced revenue of $18.9 million in the year to June 30, up 167 per cent. Its pre-tax earnings leapt 157 per cent to $1.26 million, while its net profits reached $1.3 million, up 226 per cent.
Empired managing director, Russell Baskerville, claimed its purchase of information management and consulting company, Quadrant Group, as well as Commander’s Enterprise ICT business in WA over the past 12 months accounted for 45 per cent of the company’s net profits.
“Both companies have been fully integrated and performed above expectations,” Baskerville said. “We’ll be looking at what else is out there in the second six months of the new financial year, for now we’re looking at a quiet six months with acquisitions.”
The new businesses also helped expand Empired’s presence in the WA Government and resources sector, he claimed.
Another key area of growth for the company was in its managed services business, Baskerville said.
“Managed services accounts for around 25 per cent of our annual revenue. We’re looking for larger and longer term deals at the moment and our acquisitions will help us go after those – ultimately we’re looking to grow managed services to 60 per cent of our revenue,” he said.
Empired is also keen to expand geographically and has recently appointed a business development manager in Adelaide. Baskerville reiterated plans to expand the company’s presence to the east coast in the coming year.
“We’re actively looking for something in Victoria late in the next financial year, as well as Sydney. We’ll be expanding into those areas through acquisitions,” he said.