SMS reports contracts surge at AGM

New chairman Derek Young had good news for shareholders in SMS Management & Technology at the company's annual meeting on Tuesday, with a 44% rise in contracts signed in the first quarter of the current financial year, to $121m. Encouraged by this, the company said it expected earnings before interest, tax, depreciation and amortisation to rise 40–50% in the first half, which would put them at about $13.6m.After adjusting for last year’s one-offs of $1.9m (for bad debts, acquisition-related costs and termination costs) the growth is likely to be more like 20%, and even that has the benefit of a...

New chairman Derek Young had good news for shareholders in SMS Management & Technology at the company's annual meeting on Tuesday, with a 44% rise in contracts signed in the first quarter of the current financial year, to $121m. Encouraged by this, the company said it expected earnings before interest, tax, depreciation and amortisation to rise 40–50% in the first half, which would put them at about $13.6m.

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