SMS 1H profit increases 9.3%
February 9, 2010
SMS Management & Technology Limited (SMX) delivered a net profit after tax of $13.3 million for the six months ended 31 December 2009, up 9.3% on the previous corresponding period. The information and communications technology services company said revenues dropped 3.1% to $117.1 million, while EBITDA increased 7.6% to $17.7 million in the same period.
CEO, Tom Stianos, said recent increasing demand for the company’s services has led to a significant improvement in utilisation.
”With demand strengthening, we have now shifted from a defensive posture to a growth posture,” Mr Stianos.
"We have accelerated our recruitment effort and will be increasing the size of our recruitment team.”
Mr Stianos said the next twelve months’ performance would be influenced by the effectiveness of the company’s recruitment, retention and talent development activities due to an expected emergence of a skills shortage.
SMS said has restarted its successful 457 Visa program to hire professionals from the UK and would be making employment offers during February and March.
”The company is actively seeking to acquire companies which add to and broaden its range of practices,” the company said.
SMS further increased cash to $28.6m, a 42% increase over the December 2008 balance of $20.1m.
The company declared an interim dividend of 12.5c, up on the 10c declared a year earlier.
As at 1055 AEDT, SMS shares were up 11c to $5.72.
CEO, Tom Stianos, said recent increasing demand for the company’s services has led to a significant improvement in utilisation.
”With demand strengthening, we have now shifted from a defensive posture to a growth posture,” Mr Stianos.
"We have accelerated our recruitment effort and will be increasing the size of our recruitment team.”
Mr Stianos said the next twelve months’ performance would be influenced by the effectiveness of the company’s recruitment, retention and talent development activities due to an expected emergence of a skills shortage.
SMS said has restarted its successful 457 Visa program to hire professionals from the UK and would be making employment offers during February and March.
”The company is actively seeking to acquire companies which add to and broaden its range of practices,” the company said.
SMS further increased cash to $28.6m, a 42% increase over the December 2008 balance of $20.1m.
The company declared an interim dividend of 12.5c, up on the 10c declared a year earlier.
As at 1055 AEDT, SMS shares were up 11c to $5.72.
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