Join our daily newsletter At The Bell to receive exclusive market insights
- Atturra (ATA) releases its FY23 report, highlighting a revenue of $178.3 million
- The company posted underlying earnings before tax of $18.69 million
- The company acquired two key businesses in FY23
- One gives Atturra exposure to existing government clients, the other gives it exposure to the education sector
- Shares last traded at 85 cents
IT solutions and advisory business Atturra (ATA) has released its FY23 report, disclosing a revenue of $178.3 million, marking a 32.5 per cent increase year-on-year (YoY).
Underlying earnings before tax (EBIT) was also up 35 per cent to $18.69 million.
Profit after tax came in 41.8 per cent higher YoY, totalling $10.2 million.
No dividends were distributed during the period, except for one payment to a partly owned subsidiary, Noetic Group.
Proft surged $3 million between the end of FY22 and FY23.
Across the year, the company made two key acquisitions: Hammond Street Developments, and, The Somerville Group – both privately held companies in the IT solutions and advisory space.
Hammond Street Developments brings with it a portfolio of existing Australian government clients, which are considered lucrative contracts for IT providers. Moreover, Hammond was already specialising in Microsoft services.
On the other hand, The Somerville Group provides Attura with an expanded managed services capability for large projects, particularly in the education sector, where the company is striving to establish itself as the preferred provider of choice.
In November of the previous year, the company raised $25 million from investors.
It also has its sights set on the defence sector, where it continues to seek opportunities, despite acknowledging the sector’s high barrier to entry. Notably, more than 250 of its workforce members have acquired defense-level security clearances.
During FY23, the company was also involved in Australian government-led diabetes initiatives and provided services to a Mongolian beverages company.
ATA shares last traded at 85 cents.
