Sydney based distributor Ambertech has reported a mixed year with revenue falling from $80M in 2021 to 77M in 2022 despite several acquisitions in the period.
EBITDA also fell from 8M to 7.5M with the delay in projects causing problems for the business which acquired the Hills AV business, Noise Toys MI, and Connected Media business during the year.
In an effort to grow the business management in their Professional Division are looking to become a complete supplier similar to what they did re4cently with an ABC contract.
In the Retail market the business is relying on new low-cost LED based projectors and their recently acquired Nura headphones to deliver growth.
In the Integrated Solutions market Ambertech management are looking to grow their share of the video conferencing and streaming markets as business looks to manage home based employees using video conferencing.
Ambertech announced a statutory net profit after tax of $3.7 million for the year ended 30 June 2022.
Directors have announced a final dividend of 1.5 cents per share, fully franked.
Managing Director, Peter Amos, said: “This financial year we were able to record growth across our dealer-based residential, commercial, and professional installation business units. This demonstrates that our underlying business remains very strong”
He added “ We also recorded excellent results in the consumer electronics retail market, continuing to work very closely with the major retailers in this space. We also continue to develop our musical instrument portfolio and are making excellent progress in this market.”
“This was extremely important as we continued to experience some delays in contracted project work that have seen milestones slip into subsequent periods. Visibility of projects remains clear, however completing contract negotiations and aligning with client timetables has been somewhat difficult. We look forward to these projects coming to fruition soon.”
Despite the fall in revenue the all-male board managed to pay themselves significant pay rises with CEO Peter Amos lifting his salary from to $374,275 this was up from $327,000 last year.
