Amcom net profit up 23%

13/08/2013 - 11:06

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Amcom chief executive Clive Stein.

Amcom Telecommunications has recorded its 11th year of net profit growth of more than 20 per cent, booking a 23 per cent rise in net profit for the year to June 30.

The Perth-based telco and IT services firm today announced a net profit of $20.8 million for the 2013 financial year, up from $16.8 million in FY2012.

Amcom previously predicted growth of around 20 per cent in FY2013.

Revenue was up 16 per cent to $157.7 million, while the company paid a final dividend of 3.5 cents per share.

Amcom said its core data networks division was the major contributor to the revenue rise, along with hosted and cloud services.

“Amcom is focused on building annuity style revenue streams across both existing and developing lines of business which provides a degree of predictability in forward earnings,” chief executive Clive Stein said in a statement.

“We operate in a constantly changing industry and we have proven our ability to predict and capitalise on the convergence between the telco and IT sectors.”

The company said it expected to deliver another year of double digit net profit growth in FY2014.

Mr Stein will speak alongside Sirius Resources' Mark Bennett and Cedar Woods Properties' Paul Sadleir at a Business News Success and Leadership breakfast next month.

At 10:30AM, WST, Amcom shares were up 5.2 per cent, at $1.93. 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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