Record turnover and profit figures for Absoft
Specialist software business Absoft has achieved record turnover and profit figures after targeting new sectors and broadening its customer base across the UK.
The Aberdeen-based company, which supplies SAP software consultancy and support services, has recorded a turnover of over £5.4million for 2008/09 and pre-tax profits of approximately £500,000.
It secured nine new customers over the year as it pursued a strategy of building activity in its traditional oil and gas market while also focusing on other key sectors, particularly higher education and manufacturing.
Absoft Managing Director Ian Mechie said: “We are extremely pleased to be reporting the highest turnover and profit figures in our 18-year history, particularly bearing in mind the prevailing economic conditions.
“They are a product of our strategy to develop new business streams that in turn open up opportunities across the UK – our customer portfolio now features several businesses in the south of Scotland and various parts of England.
“We now have two well-established teams, one focusing on oil & gas and the other on non-energy sectors, and that approach is paying dividends as we hone and refine our solutions and services for specific markets.
“What these results show is that our proven expertise and experience, allied to our robust business solutions, give us a vital edge in today’s competitive software consultancy environment. The coming year will continue to present economic challenges but we are well placed to sustain our growth trends.”
More recent contract successes have ranged from a six-figure deal with design manufacturing company Downhole Products in the oil and gas sector, to a number of contract support wins with higher and further education institutions across the UK.
In 2007/08 Absoft, which employs approximately 55 personnel, reported turnover of nearly £4.5million and pre-tax profits of £380,000.