IVE Group posted $20.9 million in profit for the full year, more than double the previous year, and increased revenue by 13 per cent to $382 million.
"We are pleased to have exceeded our prospectus forecasts, with strong revenue growth underpinning our uplift in both EBITDA and after-tax profit," Geoff Selig, executive chairman, told the ASX. IVE Group Ltd, formerly Blue Star, launched on the ASX in December last year.
Profit after tax more than doubled from $9.6 million last year to $20.9 million.
"The business continues to execute effectively on our strategy of ongoing diversification and growth through expansion into complementary products and services," said Selig. "Our 13.2% increase in pro-forma revenue over FY2015 reflects continued organic growth, increased revenue from our existing customer base through an expanded service offering, and contributions from acquisitions."
IVE's revenue was boosted by major new deals with Westpac, Vodafone Australia and McDonalds Australia. Other key contracts that were successfully rolled over included those with Tabcorp, American Express, TAL, Foxtel, RACV, Bupa, QBE Insurance, AMP, Beyond Blue, Bauer Media and Next Media.
The "vertically integrated marketing and print communications provider" acquired six new businesses during the year.
"We continued to execute on our disciplined acquisition program, with the bolt on acquisition and integration of four businesses [Oxygen8, Laser Computer Services, Fineline, Frost Promotions] together with the acquisition of two uniquely positioned businesses [Pareto Group, JBA Digital] that further expanded our product and service offering," said Selig.
The directors declared a fully franked dividend of 8.6 cents per share, payable on 20 October 2016 to shareholders on the register at 14 September 2016.