Acquisition strategy leads Empired growth
A combination of acquisitions and the market growth of cloud technology has led local IT services company Empired to a 119 per cent increase in net profit.
Reporting its unaudited yearly results this morning, Empired capped off a strong year by reporting a $4.3 million profit.
It had record revenue of $67 million - up 44 per cent on last year.
The company will also give shareholders an as-yet undetermined fully-franked dividend.
In morning trade its shares rose 1.5 cents to 70 cents, which is close to a all-time high.
Empired Managing director Russell Baskerville said the company's acquisition strategy had seen it "mature" align with "global growth mega trends".
It had been a busy year for the company. In May Empired bought Sydney IT consultancy eSavvy for $2.2 million.
Last year it announced a five-year, $46 million contract with Main Roads WA and in September announced a $15 million acquisition of IT service provider OBS as well as a $50 million dollar contract with an unnamed resources company.
