IT services firm ASG Group says it is confident of exceeding profit forecasts in financial year 2013 as clients transition to its cloud computing services.
ASG released a market update today, reporting a 14 per cent uplift in cloud services since June 30, with $123 million in active tenders.
Across the group, ASG said it was bidding on $363 million worth of tenders.
ASG chief executive Geoff Lewis said cost savings and efficiency gains were the main drivers behind clients' moves to cloud services.
"We believe ASG is uniquely positioned as the only domestic Australian supplier to address this demand given our significant recent investments in cloud services," Mr Lewis said in a statement.
"Our business development expense in FY2012 was almost 40 per cent higher than the previous year.
"Most of that increase was aimed at positioning ASG at the forefront of cloud services growth."
At close of trade today, ASG's stock had gained 7.7 per cent, trading at 63 cents.