Acquisition costs hit Esteem figures
ESTEEM Holdings has posted a pre-tax loss of £417,000 after a year of “significant change” for the company.
The latest financial statements for Wetherby-based Esteem show it grew turnover from £29.7m to £35.1m for the year to the end of June.
However, the acquisition of Servis IT Holdings, in Belper – described as “extremely successful for the group” – led to “significant costs” for Esteem.
The company also bought Manchester-based Midas IT Solutions but took the decision to close the operation after “the business failed to generate the planned level of sales”.
IT services Esteem was the subject of a management buyout in 2004 backed by private equity firm Primary Capital.
The company has two trading divisions, Esteem Systems selling IT equipment and Esteem Managed Services which provides IT management and maintenance services.
