Acquisitions boost annual sales and earnings at Access Technology Group
- Credit: Archant
Business management software specialist Access Technology Group has reported increased annual sales and profits following a busy year of acquisition activity.
Access, based just off the A12 at Stratford St Mary, between Ipswich and Colchester, generated turnover of £53.5million, up 23.5% on the previous year, with earnings before interest, tax, deprediation and amoritsation (EBITDA) growing by 29% to £11.6m.
It completed seven acquisitions during the year including its largest remaining reseller and a payroll services provider, as it continued its strategy of selling direct to customers and expanding its portfolio. However, there was also organic growth of 12% from its established businesses.
Chris Bayne, chief executive atAccess, said: “We’ve seen substantial growth over the past 12 months with good all round performances of our core solutions, alongside the strong growth of our cloud platform aCloud.
“We continue to invest heavily in internal product development and undertake strategic acquisitions which complement our existing product stack.
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“Our organic revenue growth and contributions from acquisitions exceeded our planned performance,” he said. “On top of this our SaaS solutions continue to grow at an incredible rate, with revenues increasing 323% year on year.”
Access, a leading author of fully-integratred business management software including finance, payroll and business intelligence, has been expanding rapidly since undergoing a management buy-out backed by Lyceum Capital in March 2011.
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The group’s strategy is to provide a range of integrated business management solutions that can be installed on-premise or delivered through the cloud to best suit customer requirements, enabling them to benefit from a fully-integrated combination of configured work flow applications, on premise and SaaS (Software as a Service) solutions.
Access has also picked up a number of awards and honours during the past year, including Growth Business of the Year in the UKTech Awards and Accounting Product of the Year in the Construction Computing Awards as well as inclusion in the London Stock Exchanges 1000 Companies to Inspire Britain and Sunday Times Best Companies to Work For listings.
“We’re absolutely delighted with these latest results, they put us in a very strong position to deliver on our future growth strategy, building on the momentum achieved to date,” added Mr Bayne.
“Alongside this growth we’re also an employer of choice which demonstrates that investing in people adds to the success of any growing company.”