Outlook rosy for Empired as $100m of deals kick in

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Outlook rosy for Empired as $100m of deals kick in

Perth-based integrator Empired has seen revenue rise 19 percent to $28.9 million, but it reported a 25 percent fall in EBITDA to $1.1 million and a half-year loss of $37,000.

However, the forecast is bright for Empired, with work now commenced on two contracts worth a total of $96 million.

Empired's acquisition of OBS was another bright spot; OBS contributed a $300,000 profit and is on track to deliver an EBITDA contribution of $1.9 million in the second half of the financial year.

OBS is expected to add $31 million per year to Empire's top line.

Empired used its results announcement to outline the reasons for the loss. "The first-half EBITDA result was negatively impacted by costs associated with contract negotiation and staff mobilisation for the two major contracts totalling $96 million announced in October 2013."

Empired also said that it experienced softer than expected demand for infrastructure consulting services and IT equipment supply.

The company also revealed plans to contest almost $100 million in new projects.

Empired raised $15 million in the period, which it said would ensure a strong financial position with all of its organic growth fully funded.

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