ASX-listed integrator, SMS Management and Technology (ASX: SMX), has posted full financial year profits of $24.3 million, down 2 per cent on the previous year.
In a statement to the ASX, the company said revenues also fell by 3 per cent to $230.6 million and cash holdings increased to $26.5 million.
The result represents a drop from the first half of the year when the integrator posted a 17 per cent net profit increase, reaching $12.1 million in the six months leading to December 31.
However, the company noted there were signs in the April to June period of prolonged positive sentiment and as a result has recommenced recruitment, which was slowed in the second quarter.
In May the integrator acquired Pelion Group, a company specialising in business performance improvement using data management and business intelligence tools such as IBM Cognos, CEO, Tom Stianos, said in the statement.
“We plan to acquire more specialist practices in areas where we have relied on external capabilities. These will further underpin our growth as one of Australia’s leading Systems Integration and Business Services companies,” he added.
The 12-month agreement, with an option for a two-year extension, will see SMS implement an information collection and analysis system to compile water data. This will create a single national repository for water information from more than 240 organisations.
Stage one of the contract is worth $2.5 million. The deal stemmed from an existing relationship with the bureau.