One of Wales’ leading technology companies has posted record profits and revenues after a strong performance during its past financial year.
After a solid year where Circle IT has built on its legacy business in south wales, the company has captured many new customers across the UK and cemented its position as a key supplier to the education sector. The Cardiff Gate headquartered company has seen its financial year end in its strongest position to date – with turnover, for the first time, reaching £15 million and recurring revenue growth standing at over £3.2 million.
The figure represents an increase of nearly 40 per cent in revenue growth.
Whilst the company has a strong hold in England and Scotland, this year’s figures demonstrate Circle IT’s commitment to the Welsh market – with 35 per cent of project work and over 50 per cent of its managed business support coming from the principality. With Welsh clients wins including Orangebox, University of South Wales and Cardiff & Vale College, this year has also seen the company securing work nationwide with clients including St. Andrews University, Newcastle City Council, Cognita and UKTV to name but a few.
Circle IT CEO, Roger Harry, said:
“We’re pleased to report such a strong performance during 2017/18. This year has seen us work with an increasing focus on education and we have performed well in meeting our strategic goals to solidify our efforts in this market.
“With significant client wins we have also expanded our support services to Europe, where we now have satellite offices on the continent which are opening up further avenues of growth.”
This year has also seen Circle IT partner with Princes Gate Trust to host a charity ball which raised over £36,000 to purchase specialist gym equipment for special needs pupils at Ely’s Ty Gwyn School.
The company has also been heavily involved with many other local charitable efforts including The Cardiff Commitment. The initiative, which is led by Cardiff Council, has seen Circle IT donate laptops and other infrastructure to local schools, including Willows High School, which will save local education establishments over £1m in capital spend.
Dan Fearnley, Chief Operating Officer at Circle IT added:
“This has been a great year for us on a charitable level and the money and awareness raised through our many initiatives will be felt positively for years to come. Next year we will continue our efforts and will be proud to support further initiatives.”
“Our focus is firmly on delivering high quality solutions to clients in Wales, the UK and across Europe and the drive and dedication of our growing team is enabling this growth.
“Next year presents a lot of uncertainly for businesses UK-wide but we’re committed to drive our growth plans and look forward to a challenging, yet achievable 2019.”
Circle IT was established in 2001 and is a leading provider of all aspects of IT infrastructure, managed services and consultancy to the UK mid-market.