Procurri, a global provider of IT services, has reported a notable financial recovery in FY2024, achieving a net profit of S$0.4m, a stark contrast to the S$8.5m net loss recorded in FY2023. The company attributes this turnaround to strategic cost optimisation and operational efficiencies, which have also led to an increase in gross profit margin from 21.2% to 22.5%.
The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) also saw a positive shift, reaching S$4.8m, reversing the previous year’s EBITDA loss of S$6.0m. This improvement is largely due to pricing adjustments and enhanced cost efficiencies.
Mat Jordan, CEO of Procurri, commented on the results, stating, “Our return to profitability in FY2024 is a testament to our focused execution and financial discipline. Whilst the industry landscape remains challenging, our ability to drive cost efficiencies, improve margins, and expand in high-growth areas positions us well for the future.”
Procurri, established in 2013, operates across three regional hubs—Asia Pacific, the Americas, and Europe, including the UK, the Middle East, and Africa—with its headquarters in Singapore. The company aims to leverage its expertise in sustainable IT solutions to capture growth opportunities within IT lifecycle services, hardware resale, and data centre spaces.
Looking ahead, Procurri plans to continue leveraging its global network and expertise to expand its presence in high-growth areas, ensuring a robust position in the competitive IT services market.
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