SMS looks to NBN, core banking for growth

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SMS looks to NBN, core banking for growth

SMS Management & Technology is looking to the National Broadband Network and core banking refresh to continue growing after posting an after-tax profit of $25.5 million today.

The result is 42 percent above last year’s results and was driven by better-than-expected performance in its operational learning and change practice, as well as strong growth in its technology services division.

The technology services division doubled in size this financial year ‘and is forecast to continue to grow strongly’, the company said in a statement.

Acquisitions such as Total Learn have also been embedded within the business, driving cross-sell opportunities and other ‘efficiencies’, the company said.

SMS claims to have $198 million in proposals and bids in the pipeline.

It is expecting ‘significant’ additional demand from the National Broadband Network , core banking system replacements, major resources projects, investments in infrastructure and large Defence projects.

These projects should increase demand for SMS services in both 2009 and 2010, the company said.

A spokesperson could not immediately be reached to elaborate on future growth prospects.

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