PS&C remains confident after first half results

PS&C remains confident after first half results

Confident in pipeline of opportunities and activities will produce a good full-year result

ASX-listed PS&C (ASX:PSZ) has seen its operating revenue increase from $39.49 million to $41.23 million and statutory net profit increase from $2.03 million to $3.06 million in the first half of FY16, compared to the previous corresponding period.

Half-year EBIT was down from $4.67 million to $4.2 million.

PS&C is made up of three business units – People, Security and Communications.

In October last year, the company acquired Bexton and also bought Certitude in January.

In a statement to the ASX, PS&C said the Bexton acquisition had performed well, and its People business is continuing to gather momentum in the general IT space with additional panel and customer wins.

It noted that revenue in its Security business had increased on the previous year, but a large portion came from its lower margin product sales rather than higher margin services income stream. The acquisition of Certitude will help PS&C engage with customers earlier in the process when developing their security plans. The company is also enhancing its security governance offering and is adding more scalable services.

PS&C said its Communications business had a strong pipeline with a number of opportunities.

“While our normalised earnings were lower than the first half last year, we remain confident there is enough pipeline and activity in our segments to record a good result for the full year,” PS&C managing director, Kevin McLaine, said.

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Tags Kevin McLaineFY16PS&C


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