- SSH Group (SSH) spikes almost 10 per cent on the share market after announcing a major expected boost to full-year revenue
- The company is expecting to table between $65 million and $75 million in total revenue for its 2021 financial year
- SSH booked $15.3 million over the 2020 financial year — meaning today’s guidance represents an expected increase of over 300 per cent
- The company is now focussing on expanding its services across Australia and hiring new leadership roles to support organic growth
- Shares in SSH Group close 9.62 per cent higher this afternoon at 28 cents each
Safety and security specialist SSH Group (SSH) has spiked almost 10 per cent on the share market after announcing a major expected boost to full-year revenue.
The company told shareholders this morning it was expecting to table between $65 million and $75 million in total revenue for its 2021 financial year.
For reference, the company booked $15.3 million over the 2020 financial year — meaning today’s guidance represents an expected increase of over 300 per cent.
With the bolstered revenue, the company is now gearing up for a geographical expansion, with an operating licence for its People Division to expand into Queensland secured.
At the same time, SSH has applied to take its Safety Division to South Australia, the Northern Territory, and Queensland.
Meanwhile, SSH said it was close to completing a talent acquisition program designed to increase some key leadership positions within the company. The company said it planned for the new roles to bolster the business’ capability and capacity as it grows organically.
Finally, SSH said it was eyeing out potential acquisition opportunities which could be complementary to its existing suite of services.
SSH Group offers safety services to a range of sectors including construction, civil, mining, and government groups.
The company also provides workforce management services spanning across markets such as labour-hire, recruitment, placement, and other services for these industries, as well as short- and long-term equipment hire.
SSH was bought out by former-ASX-listed Jacka Resources earlier this year.
Shares in SSH Group closed 9.62 per cent higher this afternoon at 28 cents each. The company has a $10.28 million market cap.