DWS announces record revenue

DWS announces record revenue

IT services company shows strong results despite being cautious in February

ASX-listed IT services company, DWS Advanced Business Solutions (ASX:DWS), has achieved record revenue for the financial year ending June 30.

Revenue from continuing operations reached $95.65 million, up 8 per cent year-on-year. Net profit reached $18.52m , up 16 per cent. Earnings before tax totalled $26.8m, while margins remained steady at 28 per cent.

The company is currently resting on zero debt and a cashflow of $13.66 million.

While the services company boasted good figures in February, its CFO, Lachlan Armstrong had been cautious about the rest of DWS’ 2010 financial year. He cited uncertainty caused by federal and state elections as well as possibility of a second round of financial crisis as reasons for concern.

The 2010 financial year also saw DWS bump up staff numbers to 550, bringing in about 20 new faces.

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Tags it servicesDWS Advanced Business SolutionsLachlan Armstrong


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