SMS Technology back to "growth tempo"

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SMS Technology back to "growth tempo"

ASX-listed SMS Management & Technology has netted $27.9 million in after profit tax for the financial year ended 30 June, up 15 percent from the previous corresponding period. 

Revenue for the full year was $247.6 million, up 7 percent. Earnings before interest, tax and amoritisation was $38.1 million, up 15 percent.

Tom Stianos, chief executive at SMS&T said the company returned the business to a "growth tempo" in the second half of the financial year.

Last financial year SMS&T delivered a total revenue of $230.6 million and a net profit after tax of $24.3 million, down 3 percent and 4 percent respectively on the previous year.

Stianos said the strong growth in FY10 was also reflected in its recruitment activity which saw an increase in "billable staff" by 194, up 19 percent.

The SMS&T acquisition of Bright Blue Solutions in February added about 37 staff to SMS Technology. 

"SMS continues to seek out acquisitions which add value to the business and support its strategic imperatives," Stianos said. 

He said broadband infrastructure would stimulate demand from the ICT sector in 2012 and health initiatives would accelerate implementation work in 2011 as the sector in 2012.

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