Consolidated reseller PS&C is reporting a "better than expected" start to the 2015 financial year, after some orders were not completed before the end of the last financial year.
With only seven months of combined operation since five businesses combined to form PS&C, the group recorded revenue of $35.92 million and profit after tax of $3.24 million for the 2014 financial year.
For the full year, PS&C estimates it would have made $63.32 million in revenue and $4.68 million in profit after tax.
While the result was impacted by the deferred earnings from its communications business, PS&C is putting on a positive spin, reporting a "strong" start to 2015 and a "buoyant" outlook.
Another positive note is an improvement in the group's security business. Earnings before interest and tax were $1.67 million, which was eight percent better than forecast.
While security is the smallest of PS&C's three businesses in terms of total revenue - bringing in $3.4 million compared to $23 million in the "people" division - the company has lofty ambitions in this space, aiming to become "the major player in the industry".
PS&C reports high margins, privacy act changes and a "buoyant" market as positive factors for its security business.
This week the company added to its security portfolio with the purchase of Sydney company Pure Hacking, a transaction that could total around $16 million.
The company remains "focussed on acquisitions".
Elsewhere, the "people" business is "poised for additional growth", though revenue was down on forecast. The communications division pulled in $9.4 million of revenue, which was down, though overall EBIT margins were slightly up on forecast.
PS&C was established in December 2013 with the acquisition of Securus, Hacklabs, Allcom Networks, Allcom Consulting and Systems & People. The group listed on the ASX the same month.
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