Legend invests in business and product development

Legend invests in business and product development

The IT components manufacturer and distributor further reduces debt by $4 million

ASX-listed IT components manufacturer and distributor, Legend Corporation (ASX: LGD) has placed significant investments in business development, marketing and product development, as it strives for growth this financial year.

The company reported an improvement in financial and operational performance for the half-year ending December 31.

Net profit increased 23 per cent to $4 million and earnings before tax grew 9 per cent to $6.2 million, compared to the previous half-year.

It has also reduced its debt to $4 million, compared to $8.1 million as of June 30 last year.

“We continue to invest in expanding our range and strengthening supply chain resources, particularly in Western Australia,” Legend CEO, Brad Dowe, said. “The group is well positioned for further organic growth and acquisitions.”

Some of the key areas of investment include hiring specific product managers across its range, which includes racks, enclosures, UPS and networking devices. This has increased its head count to 220 across the country.

“We’ll be able to maintain stock and service levels with the addition of these extra people to the team,” Dowe said. “We’ll be adding new product sets based on client needs.”

Legend has also invested in a new website, which took about a year to develop.

Dowe said the new site includes redeveloped pricing and discount structure to provide better margins to partners. It can also store quotes in progress and includes more product support and resources.

The company has not forecast what it expects to achieve for the remainder of the financial year.

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Tags Networkinglegend corporationupsIT components manufacturerBrad Dowe

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