Swift Media recorded a 23.4% increase in revenue in the first quarter of the 2021 financial year versus the previous three months to the end of June.
Swift is a specialist tech company that provides communications and entertainment systems to communities across Australia.
Swift’s performance coincides with the one-year anniversary of former Nine digital sales director Pippa Leary joining the company as CEO to work with non-executive chairman Darren Smorgon on transforming a business that had lost its focus.
Swift posted revenue of $5.9 million in the September quarter, up 23.4% on on the June quarter, with 70% of group revenue contracted and recurring.
The company had 160% EBITDA (earnings before Interest, taxes, depreciation, and amortisation) growth versus the prior corresponding period with an EBITDA margin of 5%.
It also had 200% growth in project revenue and tender requests up 28% year on year.
The company attributes this growth to its re-gearing of the business which included hiring senior executives from larger corporates including oOH!media, Fairfax and Nine Digital.
It also changed its focus to three high-growth industries - mining and resources, aged care and health and wellbeing.
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