KAZ Computer Services has announced bumper financial year results, including a 49 per cent increase in profits. According to the company, operating revenue for the year ending June 30 2000 came to a whopping $61.1 million.
Coming in 6 per cent ahead of the prospectus forecast, KAZ managed to achieve an operating profit after tax of $4.6 million, 212 per cent higher than the 1999 year.
Figures aside, the company has achieved impressive goals, including the completion of the Singapore data centre, the staffing of the Singapore business and the signing of outsourcing contracts with Perkins Engines and Givaudan.
During the months leading up to June, the company expanded its Australian operations with the acquisition of the business of SA-based IT services company Change Management, as well as a significant expansion of KAZ's outsourcing services through the acquisition of the Ausdata Group.
To top off a highly successful year in June, Kaz scored a $15 million software development contract with a consortium of Australian superannuation fund managers.