I agree, seems like a shaky start but I'm hopefully the CEO will stay true to his sentiments last June:
"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.”
EPD Price at posting:
77.0¢ Sentiment: Hold Disclosure: Held
