DWS down but not out

DWS down but not out

Loss of profit for the year, but services company remains confident for the future

ASX-listed services company, DWS (ASX: DWS), has rounded out the financial year with a drop in after tax profit of almost of 11 per cent.

The drop in profit was around $2 million, with an EBITDA drop of $2.5 million. Operating revenue was slightly up by $279,000, however, and the company claimed a strong second half result following the restructure of an underperforming Sydney operation.

DWS’ second half NPAT was almost $1.6 higher than its first half.

In a release to the ASX, the company expressed confidence in the business, with a robust balance sheet with no debt, growth in the Melbourne, Adelaide and Brisbane operations, and the appointment of two experienced non-executive directors.

Last year DWS announced expansion plans as a priority to strengthen its business, and later that year appointed

Earlier this year it claimed steady results for the half despite the Sydney office's performance.

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