IT services provider Empired has seen its fortunes soar on all fronts for the year ended 30 June 2021, ahead of its $233 million acquisition by Capgemini.
The Perth-based company posted revenue of $186.1 million, a rise of 12.4 per cent from the last financial year, and pre-tax earnings (EBITDA) of $22.6 million, more than double that of 2020.
In terms of net profit after tax (NPAT), Empired posted $10.5 million, an increase of 71 per cent year-to-year and a departure from its 2019 loss.
However, the company was also propped up by the Federal Government's COVID-19 relief scheme, JobKeeper, for which it received $4.9 million.
The company said it expected “solid growth” in the financial year 2022, with particular growth witnessed on the Australian east coast, which is “forecast to grow ahead of the market and provide an uplift in earnings contribution”.
During the last financial year, Empired scored contracts with Western Power Systems worth $61 million, plus a $52 million Environmental Protection Authority contract in Victoria.
It also picked up a deal with the South Australian Department of Innovation and Skills (DIS), which was valued at $9 million in total and will see Empired modernise the department’s core systems over a period of two years.
Empired's prospects looked promising when it posted a profit leap of 284 per cent to $7.7 million for the 2021 half year.
The Australian IT services provider maintained a 2020 return to profit for the six months ended 31 December 2020 following a prolonged and "disciplined" period of cost reduction amid the coronavirus pandemic.