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Empired profit soars 119 per cent in full year results

Empired profit soars 119 per cent in full year results

Strong result on the back of acquistion strategy and growth in the Cloud market

IT services provider, Empired, has booked a strong profit in its full year results on the back of Cloud and an acquisition strategy.

The Western Australian-based company posted a net profit of $3.8 million, and increase of 119 per cent.

It also recorded revenue of $67 million - up 44 per cent - and EBITDA of $7.1 million, while it has $8 million in cash.

According to a company statement, the Empired board declared a $0.01 fully franked dividend with a record date of October 7 and a payment date of October 21.

"The Empired Board and management team are pleased with the financial and strategic results achieved during the 2014 financial year and look forward to another transformational year ahead," a company statement said.

It also reported an underlying EBITDA of $5.7 million, while positive operating cash flow was $5.3 million.

In May, Empired bought Sydney IT consultancy eSavvy for $2.2 million.

Empired chief executive, Russell Baskerville, said, during the year, the company had secured a $50 million contract with an unnamed global resources company, a $46 million contract with Main Roads WA and developed a sales pipeline of strategic deals with a combined value of approximately $100 million to be contested during FY15.

"During turbulent and uncertain economic conditions Empired's business model has continued to prove its resilience through the defensive nature of its revenue streams," he said.

Read more: VMworld 2014: McAfee reveals Server Security Suites update

"Our results again build on our reputation of delivering year on year.

"With approximately 45 per cent of our key growth initiatives underway, we look forward to another exciting and value enhancing year ahead."

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Tags eSavvyMain Roads WAEmpired chief executive Russell Baskerville

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