Empired doubles profit in record result

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Empired doubles profit in record result
Russell Baskerville

Perth integrator Empired today revealed it has doubled profit for the 2014 financial year amid "difficult" conditions.

Unaudited results show a record net profit before tax was up 119 percent to $4.3M.

Managing director Russell Baskerville said he was "delighted" at the result during a period of "difficult" conditions.

This includes a 44 percent jump in revenues to $67 million. The Perth firm also recorded a 98 percent jump in earnings (EBITDA) to $7.1 million.

Empired has already contracted approximately 45 percent of revenue for the 2015 financial year.

A $50 million resource contract signed last year is also "on track" to contribute in the 2015 financial year.

Mobilisation and ramp up costs relating to this contract, as well as a $46 million Main Roads WA contract, were among the factors blamed for the half yearly loss earlier this year.

Today Empired reported the Main Roads WA contract will underpin contracts revenue for the next five years.

The Perth firm now refers to its plans on a national scale, with Baskerville today stating that the acquisitions provide the company a "broader national platform" for the coming years.

Microsoft has been a particular focus for Empired's acquisition strategy. In October last year acquired OBS, making Empired the largest Microsoft SharePoint partner in Australia.

The company is also now the largest Microsoft CRM partner in Australia following the acquisition in May this year of eSavvy.

The acquisitions have added to staff numbers, with the eSavvy buyout doubling Empired's Sydney office. Empired now numbers 450 people, and has a service delivery area across Australia to South East Asia.

Empired has not yet released its full year after-tax profit and audited accounts. The company recorded a half year loss of $37,000 in March, which was put down to cost associated with contracts and softer than expected demand. Last year it reported net profit after tax of $2.1 million.

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