Chess revenues soar 33%

CHESS, the acquisitive business communications and IT network company, has announced record financial results.

The privately-owned Alderley Edge company said the 33% surge in turnover to £74m and the 13% uplift in EBITDA was the result of strategic acquisitions and a broader product offering focused increasingly on cloud and digital services.

The business has also taken its headcount to more than 450.

Founder and chief executive David Pollock said: “2015 saw us continue to reduce our reliance on fixed line call revenues with a real focus on growth in ‘new world’ cloud and ICT product sales.

“We have invested in business systems and infrastructure with a major initiative on the ‘customer journey’ and made some significant appointments to strengthen the senior management team across the group.

“As proud as we are of our past success we are excited by our future plans having recently secured a £50m bank facility to support our acquisition strategy in 2016.”

Chess’s growth in revenue and EBITDA was driven by its strategy of acquisition including Avenir Mobile (UK)

Limited in June 2014, adding more than 78,000 mobile connections and 200 resellers. Other key acquisitions included the Parachute IT and Compwise ICT businesses, which boosted Chess’ ICT offering and also increased its cash generation and brought synergies.

Pollock added: “We are proud to have built a long-term and sustainable business, one which continues to grow organically and by acquisition, building on a solid infrastructure based on people, processes and product.”