Canberra's Citadel Group edges closer to $100 million

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Canberra's Citadel Group edges closer to $100 million
Darren Stanley, Citadel Group

Canberra-headquartered managed services provider Citadel Group has neared $100 million in revenue off the back of some major contract wins with the federal government.

Revenue grew 27.8 percent to reach $98.8 million for the financial year ending 30 June 2017. Earnings were up 47.5 percent to $30.1 million, and net profit was up 81.2 percent to $15.4 million.

Chief executive Darren Stanley said the strong result was in part due to renewals of existing multi-year contracts, as well as a $24.8 million contract with a "large federal government agency".

"It has been a strong year for the group and we've delivered on our promises. I'm particularly delighted the high standards of service we've provided our clients, coupled with continued growth and quality of our earnings," he said.

During the financial year, Citadel exited its vocational education training business to focus on enterprise-level information management solutions.

"The investments we have made, particularly in secure cloud-enabled products, will ensure we are well placed to meet the growing demand for cloud first solutions in governments and large enterprises," Stanley added.

Citadel is based in Canberra, but also has offices established in Brisbane, Melbourne and Sydney. The company specialises in unified communications, collaboration, systems integration and cloud solutions for government, defence and health industry. 

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