CSG pumps purchases for revenues

IT services firm CSG today announced its results for the 2010 financial year to 30 June, with strong revenue growth buoyed by its acquisitions.

(Credit: CSG)

Since 2007, the firm's IT services and print services acquisitions slipped revenues of $34 million and $69.4 million into CSG's coffers, although organic growth contributed to 41 per cent of the company's increasing revenues.

CSG snapped up customer relationship management company Aaromba Technologies in May this year, after adding a second Oracle specialist to its collection in July 2009. CSG also entered a $31 million deal with Canon to deliver print services.

The company had also expanded its services to the New Zealand print market, by devouring Konica Minolta New Zealand in December last year.

In total its revenues hit $277.8 million for this year, an increase from $197.3 million in 2009. Its earnings before interest, tax, depreciation and ammortisation (EBITDA) increased to $59.3 million in 2010 from $49.9 million in 2009. CSG announced a net profit after tax of $31.5 million, following net profits of $23.3 million last year.

Apart from the acquisitions, the results were also fuelled by several contract wins.