Graham Technology reveals 130% jump in profits

Graham Technology has today disclosed that the software solutions firm has more than doubled its profits since this time last year.

The UK and Ireland’s leading business process solutions company has today released record operating profits of €5.1m, a 130% jump from last year ’s results of €2.1m.

Overall turnover has increased by 44% to €23m, up from €16m for the year ending March 2003.

Within the year, Graham Technology has increased its global headcount by two-thirds, taking the total number of employees for the group to 208.

Chief Financial Officer, Kenny Bain said: “Our revenue, profits and cash all reached record levels in what is a challenging time in the IT sector. We are continuing to sign business with new customers and also for new products within our existing customer base.

"Significant license sales have been achieved in the year to large blue chip organizations in the UK, Ireland, Australia, Indonesia and South Africa.

“We expect this growth to continue, and will be recruiting more software engineers and business development personnel to meet the increase in demand.

"As part of our strategic global expansion within the US and Asia Pacific, we opened new offices in Boston, Jakarta, Hong Kong and Auckland. In parallel, we have added further new offices in Paris and Eindhoven to penetrate the Central European market.”

Managing Director, Mairi McLellan, said: “Our thanks are to our people and customers for continued commitment and hard work to deliver the success we have today.

"Special thanks go to Scottish Power and Argos for their continued focus on innovation and process improvement. Both these companies have reached an impressive 10-year relationship with Graham Technology, proving the flexibility of the GT-X platform to adapt to market and organizational changes over time.

Mr. Sean O’Shea Sales Director Graham Technology Ireland added: “In Ireland growth has continued with the addition of new customers such as The Gem and First Trust. This together with continued business from our existing customers such as AIB, Permanent TSB and Eircom has helped us to achieve exemplary results for the year”.