Atturra caps big year with revenue jump to $178 million

05 September 2023 Consultancy.com.au 3 min. read
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Home-grown IT consultancy Atturra has reported a 32 percent rise in revenues, capping a month which has seen further key acquisitions, office launches and appointments.

Following a fresh acquisition and the recent launch of an office in Hong Kong, Australian IT services and consulting firm Atturra has capped a big month by reporting annual revenues of $178 million, a 32 percent rise.

The growth was in part fueled by the firm’s recent acquisitions of Hammond Street Developments and The Somerville Group, which together cost in excess of $25 million. Net profit after tax was calculated at $10.6 million, an increase of over 30 percent.

Atturra caps big month with revenue jump to $178 million

“I am proud that Atturra has continued to deliver ongoing strong growth while exceeding overall profit objectives. This result reinforces the strength of our strategy in ensuring we have leadership positions in key technologies and industries,” stated Atturra CEO Stephen Kowal, with the company adding that it would continue to target annual growth of above 20 percent through a 50-50 mix of organic and aquisitive activity.

Formed as a united business by the FTS Group in 2021, Atturra last year secured a $25 million IPO raise to help drive its growth ambitions, since adding The Somerville Group and Hammond Street Developments to bring in 70 new clients and push its headcount beyond the 800-mark in Australia, New Zealand, Singapore and Hong Kong. The latter office was launched last month, with a focus on data and integration services for the APAC region.

“We’re looking forward to the Hong Kong office further accelerating the growth that our Data & Integration business is seeing in all our markets of operation, driven in part by an uptick in demand from enterprises wanting to extract maximum value from their data to support more informed decisions and effective business strategies,” commented Kowal, who joined the firm as CEO in 2019 after serving as A/NZ vice president at DXC Technology.

Continuing what has been a big past month for the ASX-listed firm, Attura has also picked up Sydney-based HR and payroll consultancy Silverdrop for around $3 million in cash and incentives and formed a partnership with data integration and management specialist Denodo.

At a personal level, the firm recently bolstered its advisory business in Perth through the appointment of former Canberra-based associate principal consultant Ash Colmer as general manager for Western Australia.

Attura continues to see a market gap for a sovereign IT solutions and advisory with wide capabilities, and stated an ongoing strategic focus on industries with a high barrier to entry, such as defence and its requisite local security clearances.

The firm is also aiming to grow its managed services practice (and will soon announce another such bolt-on), and believes it can withstand the disruption and volatility in Canberra caused by the controversy surrounding the Big Four.