94 Elite Group

Doug Woodburn
clock • 1 min read

Revenue: £46.7m (-7%)

Net profit: -0.9%     Staff: 216

"If you're looking to sell your business, get in touch", urges a recent press release on the website of this Chorley-based unified comms provider, which has built a near £50m-revenue empire on the back of 17 acquisitions over the last decade. Founded in 2000 by Matt Newing, Elite saw revenues dip seven per cent to £46.7m in its year to 31 July 2020, which it chalked up to falling spend on traditional telecoms products. During the year it integrated 2019 acquisition MWL Systems.

Covid impact

"Softer trading" during the pandemic prompted Elite to furlough staff during its initial stages, with efforts to streamline the business also sparking redundancies. But an increased focus on the cost base enabled it to boost gross margin during the year.

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