Accumuli moves into profit
ACCUMULI, the Salford-headquartered provider of advanced IT security services, has announced its first full year’s results since launching a buy-and-build move into the sector, reporting a pre-tax profit of £100,000 on revenues of £12.6m.
The company said that group earnings before interest, tax, depreciation, amortisation and one-off acquisition costs stood at £2.1m (2011: £100,000). During the year, the firm bought the Boxing Orange and Webscreen businesses for an initial £5.44m and £440,000 respectively, and said it had increased its investment in product development, which was providing more opportunities to cross-sell products from different divisions.
Chairman Nick Kingsbury said: “This year was a period of considerable progress for Accumuli during which we expanded the depth and range of our product suite and grew our customer base through the successful integration of our three acquisitions.
“We now have in place a strong operating platform from which to grow and have increased investment in product development to further enhance our cross-selling opportunities and add to our existing level of IP.
“The high level of recurring revenues we enjoy gives us good visibility as we enter the new year,” he added.
“The fact that the internet is critical to business needs exposes companies to the increasingly sophisticated and disruptive attacks that exist. As we continue to build Accumuli as a leading managed security service provider we remain confident about our future success.”
