Empired continues growth on the back of strong contract wins

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Empired continues growth on the back of strong contract wins
Russell Baskerville (Empired)

ASX-listed managed services provider Empired has continued its growth on the back of major contract wins.

In the 12 months ended 30 June 2021, Empired’s revenue grew 12 percent from $165.5 million to $186 million. EBITDA increased 35 percent from $19 million to $25.6 million, while net profit after tax grew 71 percent from $6 million to $10.5 million.

During the period, Empired secured a number of multi-year contracts with Western Power Systems, Victoria’s Environmental Protection Authority and South Australia’s Department of Innovation and Skills.

The company said the contracts drove the growth and underpinned financial sustainability heading into its upcoming acquisition by global systems integrator Capgemini.

“Pleasingly, in the backdrop of continuing community lockdowns and social restrictions, the IT sector benefited from corporate and government organisations prioritising digital initiatives,” Empired managing director Russell Baskerville told shareholders.

“The heightened demand that proceeded has provided Empired with favourable economic conditions and confidence to continue to execute on its stated strategy with a renewed focus on growth.”

Baskerville added that attracting and retaining personnel was also a highlight for Empired during the period, increasing its headcount from 905 to 1,089 employees with an 80 percent employee retention rate.

The Microsoft business applications development business also contributed to growth, representing Empired’s strongest performing core line with 30 percent revenue growth of $66 million, or 35 percent of total revenue.

Speaking on the Capgemini acquisition, Baskerville added that the deal would crystallise significant value and certainty for Empired shareholders.

“We are confident that [the acquisition] will provide outstanding career prospects for our people and significant new opportunities for our clients and partners,” Baskerville said.

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