SMS takes 45 per cent earnings hit after difficult year
Summary
At the same time, the Australian Securities Exchange (ASX)-listed company recorded an 8 per cent slide in revenue, taking in $328.7 million for the year. While SMS Management and Technology CEO, Rick Rostolis, told shareholders that the full-year results are in line with the guidance provided in May, he conceded that the companys performance during the year had been disappointing. “The performance of our SMS consulting business in 2016 was disappointing, impacted by a number of factors that saw a significant slow-down in contract wins and revenue,” said Rostolis in a statement. These actions have included an alignment of our sales and delivery teams on a regional basis to drive deeper engagement with clients. “We have also expanded our national capability development team to broaden and enhance our service offerings and strengthen delivery management.”
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