Home > Latest News > Ambertech Revenues Flat Profits Down Project Work Problems Due To Shortages

Ambertech Revenues Flat Profits Down Project Work Problems Due To Shortages

Sydney based distributor Ambertech has reported that their retail business is up, and their professional products business is down, resulting in a fall in revenues, also down was consolidated profits.

Also up was their Integrated Solutions business which grew from $18.4M to 19.3M.

Retail operations grew from $6.0M to $8.4M, key brands included Philips, One For All and Nura.

Ambertech claim that they are seeing demand for small portable projection and portable sound.

Overall revenues were $38.3M Vs $38.94 in the same 2020 period.

The consolidated profit after providing for income tax for the period ended 31 December 2021 was $2,144,000, this was down by $1,475,000 on the previous corresponding period which resulted in a profit of $3,619,000.

Directors have announced an interim dividend of 1.5 cents per share, fully franked.

Managing Director, Peter Amos, said: “The results for the first half reflect the strong team effort to guide the business through the challenges and uncertainties that have come along with COVID-19.

He added We have a clear vision and strategic growth plan, and we continue to look for opportunities to further strengthen the
Ambertech business.”

“Early returns from the newly acquired Noise Toys and Connected Media businesses this period show we are continuing on the right path. We are well placed operationally and financially to continue to grow this business, and we are pleased to have delivered on our results guidance relayed to the market”.

Chief Operating Officer, Robert Glasson said “The strength in the diversity of our dealer business is clear to see this period, with ongoing organic growth across our major retail, residential, commercial, and professional brands. Our team has been able to navigate the worst of the global supply chain issues that were well publicised in recent times.”

“This was extremely important as we experienced 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”.

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