IMG Delivering Strong Performance Through 2024 Financial Year.
IMG Delivering Strong Performance – Perth-based Intelligent Monitoring Group, Australia’s largest independent security monitoring provider, has delivered a normalised EBITDA of $A34.6 million, as IMG’s share price pushed up 187 per cent year-on-year to $0.58.
Contributing to the strong result in FY24 for IMG, subsidiary ADT Australia lifted its commercial revenue from $2 million in FY2023 to a monthly run rate of $1 million to June 2024.
IMG’s managing director, Dennison Hambling, said that early trading in the new financial year has been above the upgraded proforma level of EBITDA ($40.2 million), growth Hambling said was being driven by the recent acquisition of ACG and AAG.
Meanwhile in NZ, ADT delivered a 6 per cent increase in sales and an 11 per cent increase in EBITDA during a year of internal change in a challenging economic environment.
IMG’s results have been significantly bolstered by clever acquisitions, including Adeva Home Solutions and the subsequent relaunching of the Signature Security, which combines the installation and monitoring businesses of Mammoth Security and Aveda.
According to Hambling, the new Signature Security immediately become the second largest bureau customer of IMG’s IMS monitoring business behind Advanced Inland Group. IMS is a Patriot-based A1 graded security monitoring service operating 2 control rooms for complete redundancy.
IMG is likely to continue its growth trajectory, with increasing numbers of installation and small monitoring business owners across ANZ looking towards retirement. You can learn more about Intelligent Monitoring Group here or read more SEN news here.
“IMG Delivering Strong Performance Through 2024 Financial Year.”
