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

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
James Ferguson: How bad data is driving fear of a second wave of Covid-19
UK Economy

James Ferguson: How bad data is driving fear of a second wave of Covid-19

Merryn and John talk to MoneyWeek regular James Ferguson about the rise in infections in coronavirus and what the data is really telling us.
17 Sep 2020