Listed New Zealand document management, and data technology provider, the G3 Group, has reported a profit increase of 12% on the previous year after acquiring Melbourne based firm Formfile earlier in the year.

Profit for the full year to March 31 2016, rose to AUD$1.9 million (12%) with strong performance reported in all its traditional businesses and recent acquisitions. Group revenue rose 8.4% to AUD$39.6 million. EBITDA increased 16% from AUD$3.4 million to AUD$3.9 million.

CEO Mark Brightwell says the positive result is pleasing as contributions from Formfile its new document and data management acquisition were only introduced in Q4 of the year.

"We've done what we have said we would do at the time of listing - achieved our growth targets for the period - leveraging our traditional businesses, successfully expanded via acquisition into document and data management”.

“Our recently launched ‘Digital Office’ service in gives Australian businesses a cost effective solution to transition from physical document and information workflows to new digital cloud based automated workflows,” he says.

“The past year has been about forming a solid platform for future growth, in our chosen markets of Australia, New Zealand and in the UK,” says Brightwell.

Brightwell says the company will invest further in transformational new technology, as part of its continuing strategic expansion.

“We now have active plans for increased growth in Australia, within our document and data management businesses and by acquiring others operating in this space.

“Business platforms that convert physical workflows into digital are of particular interest to us as well as those that perform data analytics. Two pain areas for any business operator that managed well become assets for growth”.

Brightwell says G3 will consider a capital raise to help support the company’s expansion plans.