09/07/2008 - 09:15

ASG forecasts 44% lift in FY08 earnings

09/07/2008 - 09:15

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Perth-based IT services provider ASG Group Ltd has forecast a 44 per cent increase in earnings for the 2008 financial year on the back of securing a number of government and corporate contracts.

Perth-based IT services provider ASG Group Ltd has forecast a 44 per cent increase in earnings for the 2008 financial year on the back of securing a number of government and corporate contracts.

ASG is expecting earnings before interest, tax, depreciation and ammortisation of $16 million, 44 per cent above FY07 earnings.

"This builds upon EBITDA of $7.2 million for the December half and compares very favourably with 2007 full year of $11.1 million," ASG said.

ASG announced over $100 million worth of new contracts in the June half, including a $30 million contract with the Federal Department of Infrastructure, Transport, Regional Development and Local Government.

Shares in ASG were up 5c to 80c at 11:23AEST.

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