ASI Solutions overturns decline forecast with 'solid' revenue growth

Managed services provider ASI Solutions has posted what it described as "solid" growth on the back of government and private sector contract wins.

The company posted revenue of $87 million for the 2019 financial year, up five percent from $84.5 million the previous year.

ASI managing director Nathan Lowe said the growth represented a “significant” turnaround from a projected decline caused by an unspecified vendor's distribution model changes.

“This growth in 2019 has been a tremendous result for the entire organisation,” Lowe said.

“The company was forecasting a decline due to a major vendor’s changed distribution model, but has turned this around to increase sales with that vendor through a reseller model that focuses on end user engagement.”

ASI landed contracts with the Victorian government — specifically an end user computing contract and a panel contract to supply Microsoft and Apple devices — the NSW Department of Education and public health service Monash Health.

Private sector wins include multinational conglomerate LVMH, the parent of luxury brands Louis Vuitton, Moët & Chandon and Hennessy; certifications provider SGS Australia; and some managed and security services for a number of private schools across Australia.

These contracts provided helped nudge ASI’s managed services division, which grew 18 percent during the period.

The company also expanded its headcount with new hires in Perth, Armidale and Townsville to support growth in WA and in regional Australia, as well as new staff joining the Melbourne office. Its support desk team in Manila, Philippines also added staff during the period.

Looking ahead, ASI plans to grow through acquisitions, including the possibility of overseas expansion in FY 19/20.

“The business is looking at acquisitions in the 2020 new financial year and we’re open to this across Australia and New Zealand,” Lowe said.