Caretower reaches new heights in 2010

Security firm posts solid yearly numbers

Security integrator Caretower brushed off tough market conditions in a robust 2010, with revenue growing in double digits and gross margins rising.

Documents filed last month with Companies House reveal the north London-based firm saw 2010 sales rise 15 per cent annually to £16.62m. Operating profit grew 5.1 per cent year on year to £439,549, while gross margins nudged up from 14.23 to 14.29 per cent.

Net assets increased from £620,854 to £723,593 during 2010, which equates to a rise of 16.55 per cent. Staff ranks were also on the up, with average monthly employee numbers growing from 77 to 83.

“Despite the economic downturn experienced from 2008 to the present day, the company has managed to increase both its revenue and its gross profit margins,” said the directors’ report for the year. “Better management of costs contributed to an improvement in both gross and net margins, resulting in an increase of 18 per cent in retained profits.”