Empired upgrades market guidance after further managed services contract wins

25 June 2015

25 June 2015 - Empired has secured a range of new managed services contracts over recent months with a combined total contract value of $65m, necessitating an upgrade to revenue guidance currently in the market.

The FY15 Reported Revenue, initially expected to be in the range of $110m to $120m, was amended to $120m to $130m. The FY16 Reported Revenue, previously $145m to $165m, is now expected to be in the range of $155m to $175m.

To service this strong organic growth Empired has hired approximately 100 new staff. This provides a high degree of confidence in the strategy and delivering into the FY16 year however has weighed on gross margins and expenses as Empired recruit, on-board and mobilise such a substantial increase in its billable workforce.

This string of contract success and strong organic growth follows a period of rapid acquisitive expansion by Empired across the East Coast of Australia and New Zealand.

Empired Managing Director, Mr Russell Baskerville said “We are delighted to see our increased scale and breadth of services position us strongly in the market to secure major new contracts in all our regions. We have secured multi-year, multi-million dollar contracts in Singapore, both the West and East Coast of Australia and in New Zealand.”

“These contracts are all annuity based managed services contracts that provide an exceptional platform for further growth into FY16 and enhance the defensible nature of our business model and revenue predictability.”

“We are focused on continuing to build our pipeline of major strategic contracts and are again expecting a high level of new contract success into the FY16 year.”

“Our acquisitions, now consolidated under the Empired brand in Australia and integrated into our mature structures, systems and processes are demonstrating very pleasing performance. We are encouraged by the high level of staff engagement across Australia and New Zealand combined with very positive feedback from many of our customers.”

“We look forward to delivering valuable services and solutions to all of our customers and are confident in continuing to deliver on our track record of organic and acquisitive growth.”

In closing Mr Baskerville said “I would like to thank all our stakeholders for their continued support through this exciting period in Empired’s journey.”

Read more about Empired’s contract wins and revenue guidance upgrade in recent media coverage on CRN, IT Wire, Yahoo News, Channel Life, ZDNet, Finance News Network and Business News.

Empired ASX Announcement, June 2015


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