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Atturra has capped off another financial year with an increase in revenue for the 12 months ending 30 June, rising 36.5 per cent to $243.4 million.
This is up from the IT solutions provider’s FY23 result of $178 million.
Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) was also up, increasing by 21.2 per cent, to $25.5 million.
However, profit from ordinary activities after tax fell by 4.5 per cent to $9.8 million.
In a statement released to the Australian Securities Exchange to shareholders, Atturra chairman Shan Kanji said the company was “extremely proud” of its results, even with the claims of difficult market conditions in Canberra.
“This strong revenue growth reflects the successful integration of acquisitions and is a testament to Atturra’s ability to continue to execute against its strategy,” Kanji wrote.
Looking to the future, Kanji said the business’ pivot to managed services via the 2023 acquisition of the company formerly known as the Somerville Group will see Atturra increase the number of multi-year deals. The chairman claimed this means the business will have a higher chance of securing wins in the business applications space.
“This will further increase the share of predictable, recurring revenue and validate the inherent strength and relevance of our strategy,” he said.
Kanji added that the acquisition of the Brisbane based Exent, which wrapped up in early August for an upfront consideration of $6 million, will help Atturra gain new ground in a different market.
“It will allow us to move beyond the challenging Canberra market and have a national presence. Instead of relying on defence and government work, Atturra will be able to secure advisory work in the commercial sector,” he added.
At the time of the acquisition, Atturra CEO Stephen Kowal said there was a strong cultural alignment between both parties.
“There is an increase in businesses looking for a trusted advisor with the capability to help scope extensive technology change programs and then advise on this complex transformational activity,” Kowal said back in August.