ASX-listed IT services provider Oakton has announced a full-year net profit after tax of $20.2 million for the year ended June 2010.
In what was a tumultuous year for the Melbourne-headquartered firm, profits were up 42 percent from the previous corresponding period.
Revenue was steady at $186 million and earnings before tax and amortisation increased by 32 percent to $32.3 million. This included $1 million in legal costs in relation to a dispute with Victorian customer Tenix, which filed a lawsuit and damages claim in February.
Neil Wilson, Oakton managing director and CEO said: "Oakton has been working to strengthen our market position as a specialist consulting and IT services company.
"We are particularly pleased with significant market share gains in Sydney and Melbourne. Importantly our Indian operation will continue to play a critical role in this strategy.
Oakton ended the year with 1,115 staff, down 2 percent. Its staff count in India was up 10 percent to 120.
Oakton said the board "continues to focus on debt reduction". No new locations and no outbound acquisition activity was flagged for this financial year, the company's focus would remain on internal investment to drive organic growth.
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