ASG Group posted 28% revenue jump

The company posted increases in all financial metrics for the year ending 30 June 2011, despite "shaky" economic conditions

Despite shaky economic conditions, Victorian ICT provider ASG Group has posted revenues of $153.3 million for the year ending 30 June 2011, a jump of 28 per cent on the previous year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 30 per cent from $21.6 million to $28.1 million for the 12 months, while net profits after tax increased 28 per cent from $12.3 million to $15.7 million.

In a statement to the ASX, ASG Group managing director, Geoff Lewis, said he was pleased with the results against the backdrop of “a relatively patchy operating environment”.

“Margin improvement is also pleasing with contributions evident from acquired businesses, shift towards a higher margin product mix and long-term recurring revenues,” he said in the statement.

The group acquired a Perth-based data centre during the period at which time ASG Group sales and delivery general manager, Murray Rosa, told Computerworld Australia the intention was to gain traction by having its own data centres rather than using third-party providers.

All acquired business in the 12 months to 30 June 2011 has been integrated, but has fallen short of ASG’s targets due to a weakness in the operating environments.

“Operationally FY11 has been a very positive year for ASG, as we have seen the completion of business model come through the successful integration of acquired business and commissioning of the data centre,” Lewis said.

The company has forecast FY12 to remain “patchy”, particularly for private sector investments in ICT.

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