ServicePower ready to take offf says new boss

Profits down

SERVICEPOWER Technologies, which provides outsourced field management products to corporates,  has reported a 30% surge in first half revenues.

The Anglo-US company, which has its corporate HQ in Stockport, said new contract wins and an enhanced suite of products had powered strong revenue growth from £5.6m in H1 2012 to £7.3m in the six months to the end of June.

Having made a loss of £600,000 this time last year, the group reported a bottom-line profit of £200,000 in the period.

ServicePower said that in the wake of the departure of chief executive Mark Duffin in July it had confirmed Marne Martin as his full-time successor.

Commenting on the results Marne Martin, CEO, ServicePower said,”It is clear that ServicePower has extremely valuable assets in its people, its customer base and its unique global field management platform.

“The first half of the year has seen demonstrable sales success resulting in a growing, prestigious customer base.  The board believes the market is set for long-term growth and a systematic approach to ensuring ServicePower’s success and delivering increased shareholder value is now in place. ServicePower is innovating field service.”

Customers of the company, which is listed on AIM, include Assurant Solutions, Mitsubishi, Farmers Insurance and engine maker Pitney Bowes.

The company’s software controls all elements of industrial service lifecycle from offering an appointment, assigning resource and dispatching work through to tracking resources, processing claims and providing business intelligence and analytical reports.

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