Empired bucks the economic trends with strong financial results
- 02 February, 2009 15:21
Empired has recorded positive quarterly results
ASX-listed integrator, Empired (ASX:EPD), has announced positive quarterly results, despite the slowing economy.
Empired managing director, Russell Baskerville, said the managed services part of the business was the encouraging growth area.
“Managed services has created a lot of locked in annuity revenue,” Baskerville said. “There’s been an impact on other parts of the business, but the managed services has created good revenue security for us.”
Empired posted a net operating cash flow of $1,794,269.
“The performance of the business was not above what was expected,” Baskerville said.
He said the resources sector and financial services verticals had slowed quite significantly in the economic climate, but other areas, such as state government and health care had continued to spend and would be focus areas for the integrator in 2009.
“The Main Roads WA contract win, and the St Barbara Mines win in Victoria were significant, and we’re currently bidding on a number of large contracts,” Baskerville said.