CSG to expand print services business

CSG chief executive Denis Mackenzie (pictured) said growth in 2011 would come from IT services contract wins and from the expansion of “our new national print services business in Sydney and Melbourne… and New Zealand”.

“The best part of our business is that much of the profit for next year is already locked in as result of multi-year contracts in IT services and the service annuity revenue in print services which drive 80 percent of profit in this business,” Mackenzie said.

Canon signed up the integrator last May to maintain its A3 multi-function device channel in a deal that was touted to be worth $1 billion.

In its financial year that ended 30 June, CSG’s revenues increase by 41 percent to $277.8 million. Earnings before tax and amortisation was up 19 percent to $59.3 million and net profit after tax was up 35 percent to $31.5 million

Adjusted net profit after tax after expenses associated with acquisitions, contract wins and new business was $34.3 million.

“I am excited by the fact that CSG has been able to achieve company transforming acquisitions in very volatile markets, without significantly increasingly debt,” Mackenzie said.

CSG took ownership of Konica Minolta Business Solutions New Zealand in December last year. The company also owns Canberra-based print management business, the ATI Group.

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