ASG guidance suggests strong results to come

ASG guidance suggests strong results to come

$19 million expected earnings for the year

ASX-listed managed services provider, ASG (ASX: ASZ), has released positive guidance for its financial year.

In a release to the ASX, the company announced expected earnings before tax of $19 million, following earnings before tax of $9 million for the December half.

It is also expecting double digit growth in revenue and earnings in the 2010 financial year.

ASG CFO, Dean Langenbach, said the company was pleased with its situation and was in a strong cash position.

“We have a strong pipeline in corporate and government,” Langenbach said. “In the 2009 financial year we experienced good growth on existing contracts. 2010 should see the same kind of growth, and we’ll also be looking for long term managed services contracts.”

In February, ASG formally announced its strong half-year with net profits hitting $4.9 million. One of its most significant wins since then was a tender with the Civil Aviation Safety Authority (CASA) over incumbent CSG (ASX: CSV).

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