Ambitious growth plans: ASG Group
ASG Group (ASX:ASZ) is an IT services provider (ERP, managed services and business analytics) with a focus on reliable, long-term government and corporate contracts, targeting double-digit revenue growth in FY17 and improving EBITDA margins.
During the September quarter, we added ASZ to our Concentrated Equity portfolio after we met with management following the release of its full-year result in August. (We have met with MD, Geoff Lewis, many times over several years and were finally comfortable the business is well positioned to deliver on its ambitious plans for growth.)
Shortly after we initiated our holding, ASG was subject to a takeover bid from leading global provider of systems solutions and consulting services, Nomura Research Institute. In the absence of a superior offer, we will accept NRI's bid and move on to look for the next 'rising star' for our emerging leaders strategy.
View September 2016 reports