Chess is pleased to announce their annual financial results showing another year of turnover and profit growth, driven by strategic acquisitions and a focus on broadening their product portfolio into the world of cloud and digital solutions for new and existing customers.
Chess’ financial highlights include an increase in turnover of 33% to £74m and an EBITDA increase of 13%, to over £14m. The business has also taken its head-count to over 450 people.
David Pollock, Chief Executive of Chess “2015 saw us continue to reduce our reliance on fixed line call revenues with a real focus on growth in ‘new world’ cloud and ICT product sales. We have invested in business systems and infrastructure with a major initiative on the ‘customer journey’ and made some significant appointments to strengthen the Senior Management Team across the Group. As proud as we are of our past success we are excited by our future plans having recently secured a £50m bank facility to support our acquisition strategy in 2016.”
Chess’s growth in revenue and EBITDA was driven by its strategy of acquisition including Avenir Mobile (UK) Limited in June 2014, adding more than 78,000 mobile connections and 200 Resellers. Other acquisitions of note include Parachute IT and Compwise ICT businesses, strengthening Chess’ ICT offering; all cash generative acquisitions with expected synergies.
David further commented “We are proud to have built a long-term and sustainable business, one which continues to grow organically and by acquisition, building on a solid infrastructure based on people, processes and product. I would like to thank our people for their hard work, support and commitment in building a business of which we can all be truly proud.”
Latest posts by David Dungay (see all)
- Avaya considering $5 billion buy out - March 27, 2019
- Mitel Appoints Graham Bevington as EVP and Chief Sales Officer - April 10, 2015
- Exertis is the New Name for Micro-P - October 24, 2013