PS&C half-year profit grows

PS&C Group has reported an increase in revenue and profit for the first half of 2016.

The company – whose subsidiaries include HackLabs, Securus and Allcom Networks – posted a 4.3 percent rise in half-year revenue to hit $41.2 million, while net profit after tax rose 51.1 percent to $3.1 million.

The company has been on the acquisition trail in recent years. PS&C's most recent purchases included Bexton, an IT consulting business, for $2.9 million, and Certitude, a cybersecurity firm, for $2.1 million earlier this month.

“Bexton has performed well and the people business continues to gather momentum in the general IT space with an additional panel and customer wins,” the company said in a statement to the ASX.

"Certitude was acquired as the company has a growing governance offering and is adding more scalable services to its offering. This acquisition was mainly done to assist the company in engaging with customers that are in the process of developing security plans."

PS&C managing director Kevin McLaine said: “While our normalised earnings were lower than the first half last year, we remain confident there is enough pipeline and activity in our segments to record a good result for the full year. As usual, the last quarter will be important to our full-year results."