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Australia – Financial services and ICT boost M&T Resources’ full year results

21 August 2014

Australian recruitment firm M&T Resources reported revenue growth of +20.3% to AUD 76.9 million (USD 71.5 million) for the full year ending 30 June 2014, up from AUD 63.9 million (USD 59.4 million) last year.

EBITDA for the year rose to AUD 3.6 million (USD 3.3 million), an increase of +33.3% from AUD 2.7 million (USD 2.5 million) last year. M&T Resource's EBITDA margin improved by +0.5 percentage points to 4.7%.

The company advised that revenue growth was driven by the financial services and ICT sectors, which accounted for 29% and 31% of sales, respectively.

Australian consulting, technology, and systems integration company SMS Management and Technology (SMX: AU), M&T Resources’ parent company, reported annual revenue of AUD 314.4 million (USD 292.3 million), an increase of +13% compared with AUD 279.8 million (USD 260.1 million) last year. 

SMS Management and Technology’s EBITDA declined by -29% to AUD 20.9 million (USD 19.4 million), down from AUD 29.5 million (USD 27.4 million) last year. Net profit for the company fell by -40% to AUD 12.7 million (USD 11.8 million), compared with AUD 21.1 million (USD 19.6 million) a year ago.