SCH (Specialist Computer Holdings plc), Europe’s largest privately owned technology group, has released a set of unaudited results revealing that the financial year ending 31 March 2012 recorded the strongest performance in the company’s 35-year history.
Despite challenging trading conditions the group recorded a highly successful year, achieving an increase in net revenues of more than 10% as turnover rose to more than £2.75billion. With the company’s UK operations showing particularly strong growth, SCH saw gross profits rise by in excess of 8% year-on-year.
Group highlights from the financial year ending 31st March 2012:
• Sales revenue grew to over £2.75 billion
• Operating profit (EBIT) up in excess of 50%
• Growth in overheads limited to 3%
. Positive net cash balance showing a £50 million improvements
The results follow a year of significant investment for the company, particularly around cloud services, as it built a range of dedicated solutions for the private and public sectors. Following the implementation of a strategy that has seen the group move away from its traditional sales model to a service based approach, the company anticipates continued growth and a robust outlook for the financial year 2012-13.
Sir Peter Rigby, Chairman and Chief Executive of SCH, said:
“We’re delighted to record the best results in the company’s history. Although market conditions continue to be challenging, our policy of continued investment in the group and its activities has paid off thanks to a combination of careful planning, savvy financial expertise and disciplined leadership.
“The group is now perfectly poised to build on the successes of the last year, and awe look forward to a particularly strong 2012-2013.”
James Rigby, Managing Director of SCC added:
“This has been our third consecutive record year for SCC in Britain, recording a significant growth rate that has ultimately resulted in our highest-earning year to date. I’m particularly pleased that we’ve done so despite making significant investments in both people and facilities as we pursue our strategy of moving towards a more service-oriented model, which is a real tribute to the hard work and talent demonstrated by our people year in, year out.”