Quantix, a leading UK provider of enterprise applications support and IT managed services, defies the economic slowdown by announcing significant growth in the first half year of their current financial year.
The financial results, based on the period from October 2008 to March 2009, show a 37% profit increase alongside gross margin growth of 20%. Quantix also announced that its contract base, currently standing at £5m, grew by 16% year-on-year.
The company’s good news comes on the back of winning a number of awards over this period. As well as winning Oracle’s top honour of ‘Oracle Technology Partner of the Year 2009’, Quantix’s remote working solution led them to win an O2 sponsored 'Mobility Award' at CNA 2008. Demand for this secure, remote access service, delivered via a ‘Software-as-a-Service’ model, has leapt recently as organisations plan for the potential effects of the current world health crisis.
Quantix works with a variety of organisations across a broad spectrum of vertical markets, such as Transport, Telecoms, Government, Healthcare, Education, Media and Financial Services and has a client base of over 1000, typically medium-sized, organisations. This broad base of clients, combined with a range of IT Support Services that help organisations deliver cost efficiencies, is being seen as one of the major reasons for Quantix’ continued growth.
Simon Goodenough, Sales & Marketing Director, explained, “Our contract base continues to grow, month on month, whilst our existing clients continue to come back to us for further services. Although we have invested substantially in our commercial operation over the past year, which has certainly helped develop new business opportunities, much of our success is down to an extremely experienced team of Account Managers who know the market space well, whilst understanding the necessity of treating our clients as partners, rather than targets and the consistently excellent delivery of services via our technical team.”
Over the last two years Quantix has invested heavily in both infrastructure and personnel, and indeed staff numbers grew by over 50% during 2008. Despite the mood in the wider economy, further investment in infrastructure and technical delivery capability is planned during 2009.
“As the economic slowdown continues in the UK, we have been able to continue developing and delivering innovative IT solutions that are designed to help organisations increase IT efficiency while reducing running costs” says Quantix Managing Director, Dick Salmon. “In order to survive, all businesses are looking to cut costs without compromising their mission critical systems. To be in a position where we consistently offer the very best support solutions in the market is the result of continued investment but is also testament to our employees.”
He adds “With the financial backing from ISIS, Quantix has continued to grow its core range of Oracle & Microsoft Support Services whilst creating a portfolio of new offerings. Over the past 6 months we have launched exciting new IT managed services such as GEM (Enterprise IT Monitoring “through the cloud”), RapidRecovery (DR Software-as-a-Service) and SecureConnect (Secure Remote Access Software-as-a-Service). These, as well as heavy investment in Application Development skills, should help fuel further double digit growth over the coming years”.
Financial Results – H1 FY09
Turnover: £4.2M (growth of 8% YOY)
Gross Margin: £2.4M (growth of 20% YOY)
EBIT: £870k (growth of 37% YOY)
Contract base: £5M (growth of 16% YOY)
Forecast EBIT 2008/09: £1.85M (growth of 42% YOY)
Quantix, an Oracle Certified Advantage Partner, Microsoft Gold Partner, Juniper Select Partner and Websense Platinum Partner, specialises in the provision of Enterprise Applications support, managed services and high performance security solutions to the Mid Market.
With offices in London and Nottingham, Quantix employs a team of forty, qualified Oracle and Microsoft consultants and account managers delivering, remote Applications and DBA support, 24x7 monitoring and management, pro-active software maintenance, technical consulting, software development and license optimisation services to over 500 clients.
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