7th Oct 2014 09:22
LONDON (Alliance News) - Call centre and outsourcing company IBEX Global Solutions PLC Tuesday said it swung to a profit in its last financial year as it expanded its number of call centres to meet growing demand, and it also announced the departure of Chief Executive Steve Kezirian.
IBEX is already looking internally and externally for a successor for Kezirian, and in the interim Non-Executive Director Mohammed Khaishgi will take up the role. Khaishgi is chief operating officer of The Resource Group International Ltd, which is a substantial shareholder in IBEX.
The company didn't say why Kezirian is leaving the company three years after he joined its board, but said he will continue to help the business for the rest of this calendar year during the transition.
The company posted a pretax profit of USD716,000 for the year to June 30, compared with a loss of USD17.0 million in the previous year, as revenue rose to USD184.0 million from USD141.506, and exceptional costs of USD16.7 million that it booked in the previous year relating to the write off of balances with affiliates and its listing on the London Stock Exchange did not recur.
It said it will pay a maiden total dividend of 3.6 pence.
IBEX said revenue growth was driven by work with existing clients and new client wins, including contracts with a US cable provider, some marketing services business, and a US energy company. Deregulation in the utility industry is providing new opportunities, IBEX said.
The company added three call centres during the year, two in the Philippines and one in the US, and also expanded two locations in the US and Phillipines. It opened a sales office in Dubai and in London, to support its centre in Bristol.
"Since the start of the 2015 financial year, we have continued to see strong growth and anticipate the balance of the year will provide further growth opportunities. Our core clients continue to deliver growing volumes of business to us and we remain confident that our sales team will deliver new client wins which will diversify our revenue streams, in line with our strategy," said Chairman Muhammad Ziaullah Khan Chishti in a statement.
Shares in IBEX were trading down 5.6% at 126.00 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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