Stratford St Mary: Increased annual sales and profits for software specialist Access Technology Group
- Credit: Archant
Access Technology Group, the East Anglia-based business software specialist, has reported another year of growth with revenues and earnings both up by around one-third.
The company, which is based at Stratford St Mary on the Suffolk-Essex border between Ipswich and Colchester, provides accounting and management software to the mid-market business sector through both cloud and on-premise solutions.
Its annual turnover has topped £40million for the first time, growing by 32% compared with the previous year from £32.93m to £43.35m.
The figure was boosted by a number of acquisitions during the year, although there was also organic growth of 13% in sales from continuing businesses.
Earnings before interest, tax and depreciation were 34% up at £8.96m, against £6.70m the previous year.
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Research and development spend was 32% higher at £5m and the group’s total workforce grew by 36%, from 354 to 483.
Chief executive Chris Bayne said: “Our latest figures evidence again that our growth strategy is really working.
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“We continue to focus on R&D and organic growth and have been careful to acquire only excellent companies using compatible technologies to accelerate the development of our core software portfolio. We have increased our customer numbers whilst maintaining the focus on existing customers, offering excellent service reflected in high retention levels.”