ServicePower back in black

SERVICEPOWER Technologies, the Stockport-based provider of field management software, has crept back in to the black after winning a number of new contracts.

The business said it had also benefited from a lower cost base following a restructuring programme in 2009 and a competitive pricing structure.

In the year to December 31 the group made a pre-tax profit of £577,000 compared to a £4m loss last time. Sales grew by 1% to £18.2m.

The group took a significant hit on foreign exchange earnings in 2009 and after adjusting the figures to take this, and some restructuring costs, into account it made a pre-tax profit of £11,000 compared to a £1m loss in 2009.

The business has two main divisions, ServiceOperations and ServiceScheduling. ServiceOperations, which helps companies with tasks such as warranty payments and invoicing, grew sales by 11% to £11.4m.

The scheduling arm, which assists the management of field staff, saw revenue fall by 13% to £6.7m.

Chief executive Mark Duffin said: “This has been an encouraging year for ServicePower, testament to the success of the re-engineering of the business begun in 2009. ServicePower continues to be a well-managed organisation. Our market leading technology enables us to provide valuable services to some of the world’s leading businesses.

“As the market for outsourced service operations continues to grow, so does our market opportunity. We have entered the current financial year with a strong pipeline of new business, both in the UK and US. We will remain focused in the year ahead on our areas of strength and look forward to capitalising on these opportunities.”

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