Business technology reseller CSG has announced a 39 percent increase in net profit after tax and the appointment of three new directors.
The printing services provider welcomed an extra $3.4 million of NPAT, hitting $12.1 million in a financial year that saw it finalise the sell-off of the systems integration arm.
The profit was reaped from revenues of $199.2 million, up by 10 percent from the previous annual result.
CSG also stated today that Stephen Anstice, Robin Low and Mark Phillips have been recruited to the board after a 12-month search. Current non-executive director Ian Kew will retire after the coming annual general meeting.
In a presentation to the sharemarket, CSG said the finance solutions business line – which provides leasing and financing to customers for the use of printers – was a strong contributor with "receivables" up 40 percent, to $161.5 million.
Two years ago, CSG sold its integration team to NEC to concentrate on print services activities. That transaction settled during the 2014 financial year, adding $7.5 million into the coffers. The closing cash balance for 2014 was $27.3 million and the company stated it had zero corporate debt.
The focus on print has rejuvenated the Brisbane firm, which was described as "beleaguered" at the time of the NEC deal. CSG stated in its presentation that in the past year there have been "significant wins" in enterprise business via print-as-a-service and doubling of the online visitor lead conversion rate, as well as the growth in the finance division.
The past financial year also saw a new relationship start with Samsung and resulting opportunities to sell "products other than print".
CSG has $400 million of Australian enterprise contracts in the pipeline for the 2015 financial year. New domestic offices in "large regional areas" and exploration of the Singapore market are also on the horizon.
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