Thu, Sep 12, 8:41 PM (100 days ago)
For the fiscal year ended June 30, 2024, IBEX Limited reported a total revenue of $508.6 million, reflecting a decline of 2.8% compared to the previous year, primarily due to reduced demand in the FinTech and Telecommunication sectors. Conversely, net income increased by 6.6% to $33.7 million, driven by operational improvements and decreased tax expenses. Earnings per share rose to $1.84 from $1.67. The company continues to face headwinds from macroeconomic dynamics, but reported strong client wins, with 18 new clients added in FY2024. Operating expenses totaled $469.1 million, with cost of services decreasing, primarily due to a shift towards higher-margin offshore operations. Looking forward, IBEX aims to leverage advancements in AI and digital transformation to enhance customer engagement solutions while anticipating potential challenges from global economic fluctuations and labor cost increases. Total borrowings as of June 30, 2024, were $1.5 million, with a significant revolving credit facility of $80 million available for future liquidity needs. Given the current economic landscape, preserving operational flexibility and maintaining a versatile delivery model remains paramount for future growth.