BigAir touts more acquisitions on the cards
- 19 February, 2015 14:10
BigAir Group (ASX:BGL) is keeping a firm eye on expanding its market share through acquisition.
The company has made a string of acquisitions including Oriel Technologies, Anittel and Intelligent IP.
It has seen growth across all key financial metrics for the first half of the 2015 financial year, recording a 55 per cent increase in revenue to $26.2 million and underlying EBITDA up 28 per cent to $8.5 million. Underlying net profit was up 22 per cent to $3.48 million in the six months to December 31.
“The strong growth in revenue and earnings achieved over the past six months reflects BigAir Group’s ongoing expansion into new markets of Cloud, managed services and unified communications along with continued strong performances in community broadband and fixed wireless,” BigAir managing director, Jason Ashton, said.
“BigAir entered several new complementary markets via the acquisitions of Intelligent IP in September 2013 and Anittel Communications in January 2014. Pleasingly the integration of these acquisitions is on track to be completed before the end of 2015. We further expanded these service offerings with the company’s largest acquisition to date of Oriel Technologies.”
Ashton said these new divisions have expanded BigAir’s revenues and earnings and will help drive future organic growth.
“Not only do these new divisions bring with them a new set of customers, they allow us to cross-sell into our existing customer base by offering them a new range of business information technology solutions,” he said.
Ashton didn’t rule out further acquisitions stating that a number of additional acquisition targets exist that could add further scale and leverage to the company’s current market position.
“With attractive market fundamentals and enhanced cross-sell capabilities underpinning continued organic growth, the potential for further strategic acquisition opportunities, and a leading infrastructure platform, BigAir is well placed to continue its growth over the next six months and beyond.”