Outsourcery bullish on prospects for cloud growth
OUTSOURCERY, the Manchester company which provides cloud computing services to organisations such as the BBC and publisher Pearson, has reported a 44% increase in annual sales.
The company, whose joint chief executive is entrepreneur and Dragons’ Den investor Piers Linney, said it had made good progress since floating on AIM last May, as sales rose to £5.2m in 2013.
As it is still in growth and investment phase Outsourcery is still loss-making, but losses from continuing operations fell from £10m to £8.8m in the period. After its listing raised £4.2m the group has £6m cash to fund growth.
Mr Linney said the Spinningfields-based company, which now has 560 small business clients, is in a good position for further growth.
“Interest in the cloud is building across all sectors and all sizes of organisation. Our focus, investment and progress this year has put Outsourcery in a strong position to capitalise on this trend, with a clear and significant lead now emerging between us and our nearest competitors.
“When we joined AIM in May last year we promised to expand our partner network; to deepen and activate relationships with existing partners; and to explore new avenues for growth outside of the purely private sector. Some of the biggest names in technology, systems integration and telecommunications are fully engaged and working with us to jointly target end customers and generate revenue.”
He added: “Whilst there is always more work to be done, based on the progress we have made this year and on the pipeline ahead of us, particularly with our largest partners, the board is confident in its ability to deliver on market expectations for the year ahead.”
