SMS Management and Technology hunts for acquisitions

SMS Management and Technology hunts for acquisitions

Posts record revenue and 34 per cent net profit jump to $17 million.

ASX-listed SMS Management and Technology (ASX:SMX) is on the hunt for value-adding acquisitions after experiencing record revenue, achieving a 13 per cent increase to $356.2 million for the 2015 financial year.

Net profit was also up 34 per cent to $17 million and EBITDA was up 37 per cent to $28.7 million.

During the year, SMS signed contracts worth $411 million, up 18 per cent on the previous year.

The company highlighted that will be targeting solutions and managed services providers as part of its acquisition strategy.

In 2013, SMS bought managed services provider, Indicium and Access Networks group of entities for $22 million along with Perth-based IT consulting, integration and managed services provider, The Birchman Group Asia Pacific for $25 million.

SMS CEO, Jacqueline Korhonen, said the financial results reflected strong revenue and profit growth across financial services, government, telecommunications, and media and technology sectors.

“An improved trading environment for recruitment and contracting activity led to strong growth in our M&T Resources business,” Korhonen said.

“Our 2015 financial result provides the catalyst for further growth drive by emerging technology trends.”

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