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CPT Global to target international growth

CPT Global to target international growth

IT consultancy company CPT Global (ASX:CGO) plans to aggressively pursue international growth over the next two to three years.

In an investor presentation, the company said it would aim to grow revenue from international markets by 50%-100% over this period.

To achieve this, it hopes to establish annuity revenue streams from many of its international clients.

International margins are higher at 45% compared to 30% domestically, CPT Global explained. And Australian IT spend is less than 2% of the global total, but North America and Europe are responsible for a combined 60%.

But CPT Global said it was forecasting steady growth in Australia, and plans to focus on the Sydney market to facilitate this.

The company recently restructured its Australian business, reducing senior management to cut costs and appointing executives with IT industry experience.

It currently services around 60 blue chip clients in Australia, generating annual revenue of around $25 million-$28 million.

Internationally CPT Global has around 30 Fortune 500 customers generating revenue of between $11 million and $14 million annually.

Deals with a further 40 international companies are in the opportunity pipeline, CPT Global said.

CGO shares grew 11.11% on Monday to $0.600.

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Tags GuidanceASX:CGOICTconsultantsCPT Global

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