Perth-based Empired has reported stellar results for the 2013-14 financial year on the back of a national acquisition strategy.
Perth-based Empired has reported stellar results for the 2013-14 financial year on the back of a national acquisition strategy.
The company this morning released its unaudited financial results for the year, which show a 119 per cent increase in net profit before tax to $4.3 million.
Earnings before interest, tax, depreciation and amortisation increased 61 per cent to $7.1 million, from $4.4 million.
The company bolstered its revenue by 39.5 per cent, from $48 million in 2013 to $67 million, through the acquisition of two east coast-based companies during the year.
The first was Melbourne head-quartered OBS, which Empired bought for $15 million following a strongly oversubscribed capital raising in October last year.
At that time the company was expected to add $32 million to Empired's FY2014 revenue.
The second acquisition was Sydney-based eSavvy in May this year, which Empired agreed to buy for $2.2 million over a period of three years.
It was expected to increase Empired's revenue by $3.4 million in the 2014 financial year.
Managing director Russell Baskerville said Empired had also ensured organic growth during the year, which was evidenced by it securing a $50 million contract with a major resources company and a five-year contract with Main Roads WA worth $46 million.
"Both organically and acquisitively we have ensured that our services have matured and are aligned to global growth mega trends," he said.
"We are well placed to secure market share in high-demand services around cloud, big data/business analytics, mobile, social and security.
"Our acquisitions have performed well, they have met all financial performance expectations and have aligned positively into our broader culture. We are confident that these transactions have built upon our strong base and provide a broader national platform to leverage in the coming years."
Mr Baskerville said Empired went into the 2015 financial year with 45 per cent of targeted revenue already contracted.
A dividend to shareholders would be announced once results were fully audited.
