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Citadel Group Ltd (CGL) Just Reported Its Profit Grew By 39% In FY18

Citadel Group Ltd (ASX:CGL) released its 2018 financial results to the market today revealing a 39% increase in net profit.
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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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Citadel Group Ltd (ASX: CGL) released its 2018 financial results to the market today revealing a 39% increase in net profit.

Citadel specialises in managing information and supplying it securely ‘anytime, anywhere’.

Here are some of the highlights from its report:

  • Revenue increased by 9.8% to $108.5 million
  • Gross profit margin increased to 50% from 46.7%
  • EBITDA increased by 13% to $34 million (click here to learn what EBITDA means)
  • Net profit attributable to shareholders went up 38.6% to $15.8 million
  • Total FY18 dividends per share increased by 7.8% to 13.8 cents

The Citadel share price has risen 7% in morning trade, meaning that investors appear to be pleased with what they saw in the result.

Citadel CEO Darren Stanley said: “It has been another strong year as we delivered to plan, generating a record number of contract wins and extensions totalling $74 million across our core verticals of national security, defence, e-health, government and tertiary education.”

Citadel said that its eHealth segment now has 72,000 users using its laboratory information systems in Queensland, New South Wales and Victoria. It also added 24,000 new users with government clients with its Citadel-IX in New South Wales, Victoria and Queensland.

In FY19 Citadel said that it is doubling its research & development investment to drive long term growth and it also plans to make further acquisitions when the opportunities arise.

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