Avisen grows sales threefold after shopping spree

Shop til you drop: Avisen's buyout of Xploite has given it a £7m pot for more acquisitions

Buy-and-build specialist Avisen's annual results reveal that the firm has tripled in size in the past year after successfully integrating six acquisitions.

For the 12 months to the end of January, the company posted revenues of £7.2m, up from £2.4m in the 10 months to 31 January 2009. However, pre-tax losses rose to £3.1m, fuelled in part by the costs associated with its shopping spree last year.

In 2009, Avisen snapped up UK IBM partners Infocube and Inca, the latter of which contributed more than half of its new owner's 2010 turnover. Earlier this year Avisen bought fellow buy-and-build outfit Xploite. The deal has reportedly provided the company with a £7m warchest for more consolidation.

Avisen claims to have completed the successful integration of all its acquisitions to date. Chief executive Marcus Hanke also pointed out his firm had won deals with "major blue chip national and international customers" last year.

"I am confident we will continue to do so," he asserted.

New clients gained last year include Tesco Direct, Napp Pharmaceuticals, Tullow Oil, Lloyds Register and outsourcing firm MITIE. Hanke claimed Avisen has built a platform for growth.

“I am delighted to state the integration issues have now been addressed and the group is trading in line with management expectations on a monthly basis," he said. "Our strategy of positioning Avisen as a niche provider of software supported solutions during the period has set the business up for robust future growth. I am proud of what we have achieved in 2009 and am excited about the opportunities that lie ahead."