DWS reports half year revenue drop

DWS reports half year revenue drop

Company shed almost a hundred staff since previous year

DWS has released financial results for the first half of the 2013/2014 financial year. The figures show company revenue down 14 per cent since the same period last year and a loss of 96 personnel.

The Australian IT services firm reported a first half revenue of $47.88 million. This figure is down $7.56 million or 14 per cent from the year before.

DWS said that first half operations were impacted by poor business confidence and low capital investment. As a result of this the company reduced staff numbers by 96. This was an attempt to keep billable capacity at optimum levels according to the DWS report.

First half earnings before interest, taxes, depreciation and amortisation were down 20 per cent on the previous corresponding period (pcp). This is said to be in line with guidance given at the company’s annual general meeting of shareholders in November 2013.

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