Home Listed Tech Cirrus Networks lifts revenue, profits

Cirrus Networks lifts revenue, profits

IT solutions provider Cirrus Networks significantly lifted revenue to $18.7 million for the first half of the 2017 financial year to deliver a net profit of $724,000.

Cirrus (ASX: CNW)  managing director, Matt Sullivan, says the increase in revenue (up 185% on H1 2016) was primarily driven by the acquisition of L7, and organic sales growth through continued focus on client outcomes.

“This is a very pleasing result, with our cash-positive first half delivering strong growth in revenue and profitability. This is testament to the quality of our people, our leading service offering and our ongoing strategy of investing in future growth.

“With an energised executive team and continued focus on our strategic objectives, Cirrus is well placed to continue to capitalise on opportunities to drive shareholder value.”

Cirus’ results for the half included expenses related to the ongoing development of the the company’s managed services division and related cloud infrastructure, and a one-off R&D tax offset refund of $1,189k.

During the half, the consolidated entity also incurred a number of one-off and non-cash expenses including:

• Costs associated with establishing a new Canberra office of $513,000; and

• Non-cash expensing of share based options of $96,000.

The company’s underlying net profit of $190,000 compared with a $952,000 loss at the end of December 2015.


Australia is a cyber espionage hot spot.

As we automate, script and move to the cloud, more and more businesses are reliant on infrastructure that has the high potential to be exposed to risk.

It only takes one awry email to expose an accounts’ payable process, and for cyber attackers to cost a business thousands of dollars.

In the free white paper ‘6 Steps to Improve your Business Cyber Security’ you’ll learn some simple steps you should be taking to prevent devastating and malicious cyber attacks from destroying your business.

Cyber security can no longer be ignored, in this white paper you’ll learn:

· How does business security get breached?
· What can it cost to get it wrong?
· 6 actionable tips



Ransomware is a type of malware that blocks access to your files and systems until you pay a ransom.

The first example of ransomware happened on September 5, 2013, when Cryptolocker was unleashed.

It quickly affected many systems with hackers requiring users to pay money for the decryption keys.

Find out how one company used backup and cloud storage software to protect their company’s PCs and recovered all of their systems after a ransomware strike.


Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).


Popular News