Axon doubles bottom-line in bumper quarter

$77m company plans growth through acquisition

Axon has had its strongest first quarter ever, according to newly appointed CEO Scott Green.

‘We’ve doubled the bottom line result based on a significantly different mix of services and product,” he says.

The quarter, ended December, is usually the slowest quarter, but last year was boosted by two large, on-going projects: the outsourcing of 7,000 PCs at Air New Zealand, and infrastructure upgrade at Might River Power. The latter project is scheduled to continue to September this year, while business at Air New Zealand has expanded to include border security.

Green, who took up his new role on December 1 after 18 years with the company, describes Axon’s market as 100-1000 seats. “We’ve been sucked into that market space by industry consolidation, with companies such as Oxygen gone and the multi-nationals uncertain whether they should be in that part of the market.”

He thinks Axon is New Zealand’s largest privately owned IT company, with revenue last year of $77 million. Current staff levels are around 200, and the company is seeking to grow these, though Green says there is a challenge in finding higher-end skills.

“You can get technical or business skills but it’s hard to find a combination of the two.”

The company has aggressive growth plans, he says, some of which is likely to come from acquisition, primarily in the mobility and hosting areas.

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