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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published