Oakton breaks $200m revenue barrier

ASX-listed services provider, Oakton, has posted record revenues of $201 million in the 12 months to June 30, a 75 per cent year-on-year increase.

Managing director and CEO, Neil Wilson, said main highlights for the past year included increasingly larger customer projects, along with the complete integration of Acumen, which Oakton acquired in May last year.

“The size of our projects has increased, which has given us more stability in our earnings profile,” he said. “Three years ago, Oakton wouldn’t have had a $5 million project. Today we have five of those and three or four projects greater than $10 million.

“It’s part of our strategy to get into the larger project market.”

To help fulfill this strategy Melbourne-based Oakton has established an offshore operation in India, Wilson said.

“That allows us to be price competitive with the larger companies. It doesn’t replace our traditional mid-size project space, but it incrementally adds to our revenue profile,” he said.

Oakton is also seeking further acquisitions, Wilson said.

“We will be looking for companies that provide services similar to ours and could bolster our location in some areas,” he said.

Throughout the past financial year Oakton has added 285 staff. Wilson said the organisation plans to hire about 200 extra staff across the board. “We will probably see more hires in Canberra as we bring in Oakton delivery services to work alongside the traditional Acumen consulting space,” he said.