ASG posts record results

Stan Beer
Thursday, 31 August 2006 18:34

IT Industry - Listed Tech

IT Services provider ASG Group Limited (ASX:ASZ) has had a record year, announcing a net profit after tax of $5.2 million for the year to 30 June 2006, an increase of 99% over the previous financial year. ASG also recorded revenue of $59.3 million, an increase of $18.5 million or 45% on the previous year.

ASG Managing Director Geoff Lewis said that the result demonstrated the growing presence and strength of ASG across the Australian outsourcing and computer services markets.

“We are pleased revenue, net profit, earnings per share and dividends have all reached record levels and our business measures and performance criteria are on the increase across the board,” said Mr Lewis.

“We have also grown EBITDA at a rate greater than revenue growth, demonstrating our strong increase in business activity is also reflected in improving profits.

“Particularly important is that our improvements in revenue and profit performance have been achieved from organic growth.

“These gains have flowed directly from the investment made to optimise costs, improve productivity and to leverage our Australia wide infrastructure.”

Mr Lewis said the performance was also noteworthy given how the high demand for IT Services and technical staff has created cost pressures for the sector.

“Our access to skilled and experienced staff is very important to maintaining our growth. Significant attention is being addressed to this area and staff numbers have increased to more than 450 during the year, up around 25% over the year."