Intelligent Monitoring Group delivers to plan as it turns focus to driving cash flow [Video]

Intelligent Monitoring Group Ltd (ASX:IMB) managing director Dennison Hambling joins Jonathan Jackson to talk through the company’s half-year financial results for the period ending December 31, 2023 (H1 FY24). Hambling provides a business update including an outlook for the remainder of FY24. He notes that with ADT adding to the 1H result, the business is delivering to plan. Revenue has been tracked at expectations, with a better result early from the ADT Australian commercial operation. Gross margin and EBITDA have tracked at or above expectations in the period of ADT ownership. The company’s performance reflects some of the targeted gains and business improvement initiatives coming through, as it also reinvests in more insourced staff, both in technical services and due to the transition agreement (TSA) handover process from ADT vendor, JCI. IMG will now turn its focus to driving cash flow, reducing debt and building for growth into FY2025.