Ava Group Earnings Soaring

Ava Risk Group Earnings have soared 50 Per Cent

Ava Group Earnings soaring – Ava Risk Group, the Australian owner of FFT, BQT and GJD, has seen earnings soar 50 per cent year-on-year.

The company reports its expected H1 FY2023 revenue is $A13.6 million, within guidance range and up 50 per cent compared to the prior year, while Q2 sales order intake is $6.5 million, resulting in H1 sales order intake of $14.4 million. This was up 47 per cent compared to the prior year, and up 16 per cent, excluding orders from recent acquisition, GJD.

Receipt during Q2 of strategically important orders relating to the company’s conveyor monitoring solution and further expansion in the North American energy market.

Continued strengthening of the senior management team with Mal Maginnis commencing in the role of Group CEO in January 2023. Following the acquisition of GJD in August 2022 Ava Risk Group has 3 operating segments:

Detect – Manufactures and markets ‘smart’ fibre optic sensing systems for security and condition monitoring for a range of applications including perimeters, pipelines, conveyors, power cables and data networks

Access – Specialist in the development, manufacture and supply of high security biometric readers, security access control and electronic locking products.

Illumination – Specialist in the development and manufacture of illuminators, ANPR cameras and perimeter detectors.

Ava Risk Group Earnings

“I’m delighted to have joined the Ava Group and look forward to accelerating growth in both revenue and earnings,” said Ava Group CEO Mal Maginnis.

“These results illustrate the momentum being generated in the business, highlighted by the significant uplift in sales order intake which has translated into revenue growth. Sales order growth was achieved in both our access and detect businesses and was further accelerated by the addition of our Illumination business following the acquisition of GJD.

“The technology platform underpinning the company’s customer solutions is market-leading, and I am very confident that with continued customer focus we can deliver sustainable revenue growth and operating leverage during the second half year and beyond.”

Management reaffirms that it expects revenue during the second half of the financial year to exceed the first half due to:

• 6-month contribution from GJD compared to 5 months during the first half which will drive increased revenue in the Illumination business
• Growth in OEM/distribution channel revenue for the access business
• Growth in the detect business attributable to improving sales pipeline conversion and expansion of condition monitoring opportunities.

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“Ava Group Earnings soaring”