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Annodata on track to hit £100m revenue target

MSP reveals healthy growth in revenue and profits for its last financial year

The name Annodata conjures up two associations - managed services and acquisitions - in the minds of those who have followed the firm’s progress over the last couple of years.

The MSP has been no stranger to the acquisition process and has bought in both 2014 and 2015 with moves to buy Keltic and print specialist STS.

The strategy behind those deals along with the organic plans has been to get the firm into a position where it can hit the £100m revenue target by the end of this year.

Its latest set of financial results indicate that the dream of reaching that target are very much alive with the 12 months ending 30 June 2015 producing a 20% climb in both turnover and profits, to £68.9m and £6.3m.

The firm has now finished the integration of the November 2014 acquisition of Keltic and the January 2015 deal for STS and has seen both of those operations contribute to the bottom line.

“This has been a particularly good year for Annodata and, now that Keltec has been fully integrated into the business we are in a strong position to replicate that success in the year ahead,” said Joe Kelly, Annodata’s group finance director.

“Annodata continues to maintain a strong balance sheet with no bank debt, which gives us the room for manoeuvre we need to remain agile and independent in the face of fast-changing market conditions,” he added.

As well as making the acquisitions the MSP has also shuffled its management pack in the last fiscal year making several senior changes.

Group Sales Director, Rod Tonna-Barthet was appointed to the role of CEO, and there were also fresh finance, group sales and commercial directors, over the last 2 months.

Martin St Quinton, Annodata’s Non-Executive Chairman, stated that the last fiscal year had been one of the most important in the firm’s 28 year history and it was in a solid position thanks to the decisions that have been made.

“Businesses across the board are trying to streamline the number of suppliers they work with down to a trusted few, and our customers increasingly look to us to take on ever greater portions of their IT estates. It’s here where we see the greatest growth potential for Annodata,” he said.

“This year our focus will very much be on growing the cloud, managed services and ICT parts of the business and I have every confidence that we will maintain our healthy growth rates,” he added.​

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