Outstanding financial results as 4Projects bucks the trend
Posted by Robertson on Wednesday, December 09, 2009
Location
Sunderland, UK
Full Details
4Project,the UK market leader in the provision of web based collaborative extranets, is celebrating outstanding financial results for the year ended 31 March 2009. Revenues have grown to £5.5m from £4.4m, a growth of 25% as 4Projects continues to meet and exceed its clients’ expectations. Profits, measured by EBITDA, have grown from £1.7m to £2.1m in the year, equating to growth of 22% as the business continues to outperform its competitors and the general economic outturn.
Finance Director Steve Nelson commented, “Our results show that we have a robust business model that is able to withstand the current harsh economic climate. The year was full of positives for us. We grew both our turnover and profitability, improved our cash position and generally strengthened an already strong position in our markets.”
The Sunderland, UK based company provides their solution via the Software as a Service (SaaS) delivery model, which is a model of software deployment whereby a provider licenses an application to customers for use as a service on demand.
Some of the advantages of the SaaS model are explained by Mr. Nelson; “Deploying a SaaS solution delivers a number of benefits to the customer such as reduced fixed costs and expentiture on hardware, applications and management. In project driven environments, the ability to access the application from anywhere in the world is invaluable and when you consider the fact that lessons learnt from other users/clients are constantly fed back into the core systems, we are able to ensure best of breed functionality is available to all.”
The client list for the company includes some major names across a number of sectors including heavywieghts such as Centrica, E.On and Scottish Power from the energy sector, SRM (Sir Robert McAlpine), Carillion and Vinci in the construction sector as well as John Lewis and Waitrose from the retail sector.
Sustained success over the last 10 years has given 4Projects the ability to diversify into new vertical markets and new geographical territories in Europe, USA and Canada. Managing Director Richard Vertigan said “the expansion plans we have been able to put in place this year are testament to a strong management team which has been able to spot growth opportunities whilst some of our competitors have been concerned with cost-cutting and survival.”
Category
Company News Release