ASX-listed IT components manufacturer and distributor, Legend Corporation, has outlined new geographic markets for growth in the new financial year.
The growth initiatives come on the back of the company posting a record net profit of $8 million, up 21 per cent for the financial year, ending June 30.
EBITDA was $14 million, up 4 per cent compared to the previous year.
Net debt was also reduced $6.8 million to $1.3 million.
“We are confident the strategies we have in place with each of our businesses including both organic growth and further potential acquisitions will continue to deliver future growth,” Legend CEO, Brad Dowe, said.
The company’s business units include Cabac, Hendon Semiconductors, Legend Performance Technology, Cabac Power and MSS Fibre Systems, which was acquired in June.
Legend highlighted geographic areas such as Western Australia, Northern Queensland and New Zealand, as potential growth markets as well as further acquisitions opportunities.
The company also cited the National Broadband Network (NBN) as a business driver.
“Our successful program to retire our net bank debt has enabled our acquisition program, which further strengthens the Group’s prospects for growth,” Dowe said.
Further investment will also be made into refreshing its enterprise systems. Within its Legend Performance Technology business, it will seek to develop an online strategy and continue developing a new Hypertec range of computer room products.