Infrastructure technology solutions provider CAE Technology Services has reported strong numbers for its financial year ending June 2019. Turnover for the year increased 28% from £103.9m to £132.9m following growth from multiple areas driven by investments made in the previous year.
This figure included impressive growth from international sales of 184%, representing £13.7m of turnover, or 10.3% of the overall number. Operating profit increased from £2.3m to £3.9m, a rise of 69%.
The results were achieved in a year where CEO, Justin Harling (pictured) and COO, Richard Behan, completed a Management Buyout of the business.
Reflecting this growth, CAE has incorporated trading entities in both the Netherlands and India to operate alongside the existing UK business and US subsidiaries.
Justin Harling commented, “We know the business has huge potential and we are delighted that the figures illustrated what can be achieved in both the short and long term for CAE, especially in a year that included our MBO.
On the back of excellent numbers, investment has continued in the business in all areas, including core competencies of networking, datacentre and security as well as growing recurring revenues and achieving our first revenue from application development.
Before Harling led the company through the MBO process he appeared on Comms Business Live to talk about the opportunities within the Public Sector. You can see that stream here.
We are looking forward to continued growth from a focused number of vendors and strategy built on unrivalled customer intimacy.”
In order to support this CAE has also announced in January that in a restructure, Sales will be fully aligned with vendor teams under new Sales Directors, Gregg Spooner (Enterprise and Public Sector) and Rob Finnerty (Commercial) and a new Business Services department will be formed under the leadership of Bob Pigott. All three will form part of an operation that also includes Technical Services so that combined they can deliver a seamless, world class, Customer Experience proposition.
Justin concluded, “If you are willing to invest and adapt to the changing needs of customers there has never been a better time to deliver infrastructure services. CAE is ready to go with an enhanced top team that can scale the business and take it to the next level.”
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