ASG profit up 28 percent

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ASG profit up 28 percent

Australian systems integrator ASG Group has reported a 28 percent jump in net profit to $15.7 million for the full year ended 31 June, 2011.

The company said it had secured major contracts during the year in the Federal Government and resources sectors and had realised new business opportunities with vendors including Oracle and SAP.

Revenue increased by 27 percent year-on-year to $153.3 million.

“We are very pleased to deliver a record financial result to shareholders for FY11, particularly against the backdrop of a relatively patchy operating environment,” said ASG Group Managing Director Geoff Lewis. 

“Our ability to translate strong revenue growth into earnings growth is a reflection of our robust business model, internal focus on cost control and the resilience of our recurring revenue base.”

Lewis added that margins had improved across the business while there was also a shift towards long-term recurring revenues.

ASG also reported the successful integration into the business of a number of acquisitions which it said were now operating well and contributing to the expansion of its portfolio of offerings.

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