Prosource.it today announced record turnover and profit for its last financial year ending June 2008. Turnover was up 11.5% to £12.1M with profits up also by 11.5% to £2.7M. In the current trading period, revenue in the six months to December 2008 remains strong and shows a further double digit growth on the same period last year.
Despite a recent softening of the oil price and a general belt tightening throughout the economy in response to the credit crunch, prosource.it remains bullish about the forthcoming year. Commenting on the growth, Commercial Director Stewart Proctor stated, “our business in the financial sector has been significantly impacted by the credit and banking crisis over the past 12 months, but our business from Energy, Transport, Media & Manufacturing sectors has more than compensated with a 28% increase to deliver our 5th successive year of overall revenue and profit growth.
A highlight of the past 12 months has been the opening of our Houston operation to capitalise on and leverage existing Energy sector relationships. Although in its infancy, the US business is already employing 13 staff and we have booked over a million dollars of business in our first 6 months with excellent prospects for 2009. We see this as an exciting and important source of growth.
In times of economic contraction, companies like ourselves traditionally do well at the expense of the larger players. We have the low cost base and nimbleness to deliver value and excellent service – to meet customer demands to ‘deliver more for less.’ Our order book going into 2009, combined with our strong Houston debut allow us to confidently predict a 6th successive year of growth”.
A prime ingredient in the success of the company has been its industry leading staff retention figures – averaging over 95% per annum over the past five years. Workforce Director Craig Adams explained “the welfare of our workforce is key to the quality and consistency of service we deliver to our customers. I am personally delighted to have invited a further four staff to join our ‘Ten Year Club’ this year. In the computing industry it is very unusual for staff to remain at the same company for much more than 5 years – for us to have 7 staff who have been with us for more than 10 years is unique for a company of our size and we recognise the milestone with the award of a Rolex watch to our workers at that point. I am also equally delighted that our first tranche of share options were exercised this year – this introduced 14 new employee shareholders into the company.
Based
in Aberdeen, with offices in London & Houston, prosource.it was created
in June 2003 as a result of a merger between two Aberdeen IT services companies,
Promac Aberdeen & Outsource IT. Still privately owned, the company now has
a workforce of over 175 and specialises in providing IT infrastructure project
and support services to UK & US corporate companies.