Swift Media's revenue jumps 23.4% in the September quarter

Paige Murphy
By Paige Murphy | 26 October 2020

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.

swift

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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