Revenue up almost 20% for Ambition Group at YE 2015
Ambition Group has reported increased full-year revenue and profit for its year ending 31st December 2015.
The company also reported the payment of a 1 cent per share fully franked dividend.
Revenue for the year was $107,243,00, an increase of $17,756,00 from year end 2014 ($89,487,000). NFI rose $6,681,000 from $39,913,000 in 2014 to $45,994,000 at year end 2015. PBT also increased to $1,658,000, up $1,624,000 from year end 2014 ($34,000).
Group chief executive and co-founder, Nick Waterworth, said, “This is a pleasing result driven by our focus on building real expertise in a small number of white-collar disciplines across our network in major cities in Australia, Asia and the UK – ‘inch wide, mile deep’.”
Revenue increased by 19.8%, with growth coming from all regions: Australia (up 17%), Asia (up 41.4%) and the UK (up 11.6%). Earnings before tax grew from breakeven in 2014 to $1.7m (after corporate overheads). In Australia, the three brands (Ambition, AccountAbility and Watermark Search) performed strongly, producing profit before tax of $2.8m, a significant increase on the $1.8m in 2014.
The company also reported its Asian operations posted a small profit of $0.1m, as it invested in the newer offices in Malaysia and Japan. Waterworth added the company continue to see meaningful opportunities for Ambition in Asia.
The UK business also saw an improved performance to post a profit of $0.3m following the 2014 profit of $0.1m. The company confirmed it has a robust balance sheet including a strong cash position and zero debt. The directors also announced a full-year fully-franked dividend of 1.0cps, payable on 18th March 2016.