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Morale high for Atturra as HY23 revenue hits $83M

Morale high for Atturra as HY23 revenue hits $83M

Both revenue and post-tax profit grow by a third.

Stephen Kowal (Atturra)

Stephen Kowal (Atturra)

Credit: Atturra

IT consultancy Atturra has posted a bumper half-year 2023 with both revenue and post-tax profit growing by a third in the six-month period. 

The Canberra-based Microsoft partner posted revenue of $82.8 million, a 33.8 per cent increase year-on-year for the period ended 31 December 2022. 

Net profit also reached $4.5 million for the first half of FY23, up 32 per cent from the previous corresponding period. 

Meanwhile, underlying earnings before interest and tax (underlying EBIT) was up by 29.9 per cent to $8.7 million. 

CEO Stephen Kowal told shareholders that the Atturra team was feeling “continued high team morale”, calling it an “exceptional start” to FY23. 

“Our result clearly demonstrates the inherent strength and relevance of our strategy of ensuring we have leadership positions in key technologies and industries,” he said. 

The half-year results come a year after the company formerly known as FTS Group listed on the Australian Securities Exchange (ASX) after raising $24.5 million

During FY22, Atturra completed three acquisitions, which include Mentum Systems, Kettering Professional Services and Hayes Information Systems

It also got embroiled in a bidding war with Brennan IT for the purchase of MOQ Limited, with Brennan ultimately walking away with the deal. 

Looking ahead at the rest of FY23, Atturra is set to acquire specialist Microsoft partner Hammond Street Developments (HSD) for $6.5 million.

If the acquisition proceeds, the company anticipates FY24 revenue in the range of $210 million to $230 million. 

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