Western Australian national IT services company Empired increased revenue by 5% to $168 million for the 2017 financial year to the end of June, with multi-year contracts growing to 66% of total revenue.
The company (ASX: EPD) recorded an EBITDA of $15.4 million, up 105%, and says key growth regions ramped up with NSW sales growth of 32% and Auckland in New Zealand 67%.
Commenting on the full year result Empired managing director Russell Baskerville said, “Over the past year we have focused on delivering strong financial results whilst ensuring our services align to key growth trends in the market supported by a materially improved balance sheet”.
“This combined with a high level of predictable revenue will position Empired to capture market share and deliver sustainable earnings growth over the coming years.
{loadposition peter}“We were delighted with revenue derived from multi-year contracts reaching 66% and two of our key growth markets delivering exceptional sales results with NSW sales up 32% and Auckland sales up 67%.
“We operate in an exciting industry that is undergoing transformational change driven by rapid technology adoption.”
On the outlook for the full year 2018 Empired says it is “well placed” to capture market share in the circa $30-plus billion market and is expecting revenue growth for the year.