ASG forecasts profits of $7M for December

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ASG forecasts profits of $7M for December

IT services provider ASG Group has forecast a profit guidance rise of 66 percent for the six months to 31 December 2007.

ASG is forecasting EBITDA of at least $7 million for the December half, this compares with EBITDA of $4.2 million in the previous corresponding period and $11.1 million for the full 2007 financial year.

ASG Managing Director Geoff Lewis said the guidance was attributable to strong performance in the December half across each of the company’s markets and a strong focus on maintaining operating margins.

“We are seeing benefits from ASG’s investment in national infrastructure over the past two years. We are bidding for contracts with a dollar value of $600 million and are serviced through our national network,” Lewis said.

He said the outlook for the full 2008 financial year was good, with strong growth in revenue and earnings.

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