Home Industry Listed Tech Bulletproof drives profit growth via public cloud market

Managed cloud IT services provider Bulletproof says it has capitalised on Australia’s expanding $4.15 billion public cloud market to record strong revenue growth for the 2015 year.

In results released today, the ASX-listed company says full year revenue growth for 2015 is up 59% to $29.1 million from $18.3 million in 2014, while underlying net profit of $548k was up 22% on FY14.

Bulletproof (ASX: BPF) says it is helping companies transform the way they do business by moving from traditional, “staid IT infrastructure” to the cloud, where they can innovate faster and more efficiently than their competitor.

CEO Anthony Woodward says revenue growth, at 59%, is above the industry trend of 30%, on the back of significant customer wins including Rabobank, Hyundai, Qantas, Amaysim, and Inchcape.

“Bulletproof has again achieved strong results for the year with growth in managed public cloud revenues outperforming our expectation.

“Managed public cloud revenues are now 37% of our revenue base for the period, up 300% from FY14. Our strengthened consulting offering resulted in once-off revenues growing around 150% year on year, reflecting the strong demand customers have for our expertise in advising, migrating and then supporting their applications in the Cloud.”

According to Woodward, Bulletproof’s credentials as the “leading cloud services provider” resulted in continued growth of corporate, government and enterprise clients, with an increase in new average customer monthly recurring revenue.

“As customers continue to explore – and then move more workloads to the cloud - they will also continue to grow their managed cloud services spend,” Woodward said.

Woodward said Bulletproof has established and continues to grow its product development arm, aimed at bringing highly automated, customer oriented application platform products to market.

The Bulletproof chief says these products will be combined with existing professional services to deliver "truly innovative and transformative services" to customers, and the company already has an initial trial under way with Dick Smith for one of its key application platform products.


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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).


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