Amor enjoys strong interims on continued growth

BUSINESS technology group Amor, which has an office in Coventry, has reported strong interim results, with turnover and profit both ahead of target.

The half-year results, for the six months up to June 30, 2010, show EBITDA for the group’s trading arm, Amor Business Technology Solutions, is ahead of budget at £2.6m.

Turnover for the six months was £16.5m, up from £15.4m in 2009 and 7% ahead of target. Total turnover for 2010 is forecast to be £32.7m and projected profits stand at more than £6m.

Amor Group provides business technology solutions, professional services and managed services to the energy, transport and public sectors and its first set of results, announced earlier this year, showed annual turnover of £30m, with continued growth forecast for this year.

As part of its ongoing expansion, Amor has created 77 new jobs in Aberdeen, Glasgow, Coventry and Edinburgh, taking its total number of employees to more than 400.

Major wins in 2010 have included work in the public sector, such as a £3.9m professional services contract with Ofqual, the regulator of qualifications, examinations and assessments in England.

Energy contracts included a five-year support contract with Centrica Energy Hydrocarbon Resources, worth £500,000, and a $750,000 contract with the National Gas Company of Trinidad and Tobago to design and install a gas management system for the Cross Island Pipeline system in the Caribbean.

Amor also specialises in technology solutions for the Aviation industry and wins included a £200,000 deal with Oslo Airport for its passenger tracking system, PAXTrax+.

John Innes, Amor Chief Executive, said the positive interim results supported the company’s aim of doubling turnover to £60m by 2012.

“It has been an extremely successful year for us so far, with our turnover and profit already ahead of target, and we have won new contracts across all areas of the business, valued at around £23m,” he said.