Empired admits “disappointing” start to year

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Empired admits “disappointing” start to year
Russell Baskerville

Empired has admitted a disappointing start to the 2016 financial year, reporting a $3.7 million loss for the six months ending 31 December after last year’s $4.8 million profit.

The national solution provider's results were impacted by a restructure to the Australian sales team costing $4.1 million, delays in commencement of new contracts costing $1.1 million and a once-off plant and equipment write-down of $2.3 million after consolidating nine offices to three.

Empired chief executive Russell Baskerville said: “Whilst we are disappointed with first-half trading results, they are largely a result of integration-related activities."

He added that the company is looking forward "to delivering a strong second-half result".

On the upside, Empired’s half-year sales grew 56 percent to $78.5 million. The company landed $32 million in multi-year contracts, including Victoria Education and Western Power.

 

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