Annodata is attributing organic growth following its acquisition of Keltec in 2014 as the main reason for its FY2015 performance.
The firm, which appointed a new CEO last autumn and has carried out a shake-up of its senior management team, saw profits and revenue grow by 20 per cent, achieving turnover of £68.9m, up from £57.4m at the same time last year.
Profits also grew by 20 per cent, hitting £6.3m, bringing the firm one step closer to its target of £100m by the end of the year. Annodata acquired Keltec in November 2014, widening its capabilities to include cloud hosting, and ICT capabilities.
Joe Kelly, group finance director at Annodata, said: “The MSP acquired IT infrastructure provider Keltec in November 2014 and wide-format print specialist STS in January 2015, strengthening and extending Annodata’s service portfolio to include cloud hosting and ICT capabilities and creating significant opportunities to cross-sell between the companies’ respective customer bases. Now both fully integrated, the acquisitions have allowed Annodata to focus on growing its client base and deepening its engagement with existing customers by offering new services.”
Martin St Quinton, non-executive chairman at Annodata, said: “The past financial year has been one of the most significant in Annodata’s 28-year history, marked by solid growth, acquisitions that have expanded Annodata’s portfolio of services, a spate of large new business wins, and a number of strategically important appointments to strengthen our senior management team – all things that have helped to contribute to our continued success.
“Businesses across the board are trying to streamline the number of suppliers they work with down to a trusted few, and our customers increasingly look to us to take on ever greater portions of their IT estates. It’s here where we see the greatest growth potential for Annodata. This year our focus will very much be on growing the cloud, managed services and ICT parts of the business and I have every confidence that we will maintain our healthy growth rates,” he added.
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