Soaring turnover for network services provider

An IT network specialist which launched in Leeds two years ago has seen its turnover grow by 150% in its second year of trading.

Principle Networks, which entered its third year of trading in June, helps create next generation SD-WAN solutions.

Its 2019-2020 financial year saw the company reach a turnover of £900,000, whilst growing its team to eight people and welcoming new clients including Chase De Vere IFA and NCO Europe.

With demand for its services increased further in light of the pandemic, the company is seeing a surge of enquiries for more dynamic, reliable and secure networks to allow work forces to operate successfully from remote locations.

Three new members of staff have been hired during the pandemic to support the engineering and service delivery teams, with further recruitment on the horizon.

Russell Crowley, who set up Principle Networks with Alex Steer, said: “It’s been a fantastic year for Principle Networks and we’ve been delighted with how things have grown, beating our forecasts by more than 50%.

“Our aim was always to offer a fresh and alternative proposition to mid-enterprise businesses and to lead the way in SD-WAN services, seeing the gap in the market for a flexible and bespoke provision.

“We are delighted with how well it’s being received by companies we speak to.

“We’re working with businesses which need to connect teams across the world – and never has that need been so important as in the last quarter.”

Steer added: “The increase in demand in response to the pandemic is demonstrated by the fact we’ve recruited three new technical members of the team since lockdown began, to ensure our customer service continues to be immediate and responsive.

“Our customers want to understand how they can do things differently to meet the real-life business demands of today’s world and to give them more flexibility moving forward.

“We’ve all just found out you really do never know what’s round the corner.”