Empired secures $5m per year in contracts

Perth-based IT services provider Empired said it would replace revenue lost this year with recently signed management services contracts, delivering $5 million in recurring annual revenue for the company.

The announcement comes six months after Empired said its ICT infrastructure support contract with Main Roads Western Australia would not be renewed, equating to a $10 million loss in revenue for the 2020 financial year.

Empired said today it has recently signed and been named as preferred supplier, or is in the advanced stages of finalising new or expanding contracts, that it anticipates to generate significant project services revenue.

Empired said it has a contracts pipeline of $200 million to be contested throughout 2020.

Managing director Russell Baskerville said the company is committed to long-term mutually successful partnerships.

“We are delighted with our recent managed services contract success, cementing our managed services operations and delivering on our commitments to building recurring revenue and long-term client partnerships,” he said.

“Empired continues to have a strong strategic deals pipeline and is actively contesting a number of large multi-year, multi-million dollar per annum contracts and looks forward to updating the market accordingly.”

Earlier this month, the company secured a five-year IT supply contract with Rio Tinto, which Empired said would provide an opportunity to bid for provision of services across existing service pillars and a range of newly defined service pillars.

The company said it is also providing infrastructure managed services for the Department of Planning Lands and Heritage and for Loyalty Pacific (Fly Buys).

Shares in Empired down 3.12 per cent to trade at 31 cents per share, as at 3:55pm AEDT.