Empired profit up 135%

27/08/2015 - 13:24

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Local IT firm Empired has decided against declaring a dividend payout to its shareholders, despite reporting a 135 per cent surge in net profit for the 2015 financial year.

Local IT firm Empired has decided against declaring a dividend payout to its shareholders, despite reporting a 135 per cent surge in net profit for the 2015 financial year.

Empired’s profit grew to $5 million, with revenue up 94 per cent to a record $130 million.

The company held $9.6 million in cash at June 30, with earnings before interest, tax, depreciation and amortisation up 94 per cent to $11 million.

However, it has decided to withhold a dividend payment, on the basis that it had to employ more staff to cater for the amount of contracts it had been awarded over the year.

Empired grew its staff from 419 to 919 full-time employees during the year.

Last year’s purchase of Intergen - the largest of four acquisitions since 2012 - added 370 staff, mostly in New Zealand and on the east coast.

“During such a transformational year we were delighted to deliver record financial results in all key measures and now enter FY16 in the strongest position of our company’s history,” managing director Russell Baskerville said.

“With a strong balance sheet, over 900 staff and services aligned to key growth segments of the market we again look forward to delivering exceptional strategic and financial results in FY16.”

Shares in Empired were 2.7 per cent higher to 76 cents at 1:20pm.

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