NSC Global targets international acquisitions
Cisco Gold partner grows sales past £50m and reveals plans to buy three foreign companies
Tomorrow, the world: NSC Global is looking for two European buyouts and one in the US
Integrator NSC Global is looking to spread its wings through a series of global acquisitions, after healthy top and bottom line growth in its last fiscal year.
Financial results for the 12 months to the end of June, filed with Companies House this week, reveal the Cisco Gold partner's turnover was up eight per cent to £52m. Net profit stood at £2.6m, almost double the previous year's amount.
Last year, NSC posted product sales of £36.8m, a little more than 70 per cent of overall turnover. Services revenue stood at £15.1m, about 29 per cent of the total figure.
The UK provided 84 per cent of revenue and about 12 per cent came from the rest of Europe. North American sales represented a little under one per cent of the total, with the rest of the world providing the remainder. In his report, managing director Yaseen Khan reveals that his firm is on the lookout for foreign acquisitions.
"Our underlying profitability and annuity-based revenues have shown growth in excess of 14 per cent which then allows us to look ahead to further acquisitions as we grow our international reach," he wrote.
"This is likely to be achieved by two further acquisitions in Europe and one in the US to enable us to grow horizontally into different technology segments. "
The report also reveals the VAR has implemented an Elite Partner Programme, with firms across the globe audited and accredited by the integrator. So far, 43 partners are authorised to provide services on NSC's behalf.
The London-based VAR's headcount increased last year, with the average monthly figure rising from 129 to 143. Admin staff numbers spiked from 15 to 23, while the firm's techie ranks swelled from 64 to 90. But the sales department more than halved in size, with numbers falling from 38 to 17.
But, despite the increased staff numbers, salaries took a hit last year, falling about seven per cent on 2008 levels to £7.6m.
Overall, Khan claimed the company had started to reap the benefits last year of moving towards becoming a services-led firm. He added that NSC's growth was particularly impressive in light of the economic climate.
"The market is not easy," he wrote. "We are seeing decisions being delayed, the competition much stronger and the bureaucracy more onerous. However, we have managed to evolve our business to the demands of the market."