Revenue up 10 per cent at Innovation Group

Revenue at international business process services provider Innovation Group rose 10 per cent in the year ending September 30th, according to preliminary results published by the group on Wednesday.

Revenue at international business process services provider Innovation Group rose 10 per cent in the year ending September 30th, according to preliminary results published by the group on Wednesday.

The group's revenue jumped to £193.7m compared to £175.9m in 2011, while pre-tax profit rose 15% to £11.8m from £10.2m in 2011.

Business process service revenue, comprising motor, property and other business process services represented 88% of total revenue at the group.

Revenue growth varied considerably from region to region. In Asia Pacific, revenue doubled as a result of an acquisition which contributed revenue of £8.7m and three software deals. In North America, revenue fell by 5% due to a reduction in software revenues in the first half of the year and revenues fell 27% in the group's Spanish operation although European revenue was up overall at £104.6m, compared to £97.6m in 2011.

Andrew Roberts, Chief Executive Officer at the Innovation Group, said: "This has been a strong and positive year for our group. We have worked hard to deliver significant growth in both revenue and profit and we have continued to execute to our plan, embedding ourselves more deeply with customers, building out our offering via acquisition, and leading the market in terms of innovation."

"This will continue in the year ahead and we remain confident that we have the right strategy to deliver profitable growth at good margins this year and in the years to come," he added.

The FTSE Small Cap company has a market share of £225.96m. Its share price was unchanged at 23p 10:35 on Tuesday following a day high of 23.50p.

MF

Recommended

Share tips of the week - 12 August
Share tips

Share tips of the week - 12 August

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
12 Aug 2022
Britain’s ten most-hated shares – w/e 9 August
Stocks and shares

Britain’s ten most-hated shares – w/e 9 August

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
10 Aug 2022
Aviva: One for income investors to tuck away
Share tips

Aviva: One for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
10 Aug 2022
Director dealings w/e 5 August: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 5 August: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
9 Aug 2022

Most Popular

UK House Prices Set To Fall? It’s Not So Simple
House prices

UK House Prices Set To Fall? It’s Not So Simple

Figures suggest UK house prices are starting to slide, but we shouldn’t take these numbers at face value, explains Rupert Hargreaves.
11 Aug 2022
Are UK house prices finally heading for a crash?
House prices

Are UK house prices finally heading for a crash?

The latest house price figures show a fall of 0.1% in July. With interest rates rising, inflation hitting double figures and a recession on the cards,…
5 Aug 2022
Three solar stocks to invest in
Renewables

Three solar stocks to invest in

This week, professional investor Nicholas Mersch of the HANetfS&P Global Clean Energy Select HANzero UCITS ETF tells us three solar stocks to invest i…
12 Aug 2022