Financials

The Directors are pleased with company performance in the current year. The financial liquidity of the company is strong and the main product sectors of the company continue to perform well.

Despite the economic downturn, BiP Solutions maintained a policy of investment into its people, products and infrastructure throughout the 2009/10 financial year. This investment has seen staff numbers increase from 160 in 2008 to more than 220 in 2010, supported by the relocation of BiP’s headquarters to Medius in Glasgow’s Digital Media Quarter. During the 2009/10 financial year, BiP relaunched its flagship business intelligence service Tracker, and also invested into upgrades to many of its other services.

Investment is also the theme within BiP’s events portfolio, with the launch of the Procurex National event in March 2010 (which buillt upon the success of Procurex Scotland) and the development of a nationwide series of SME procurement workshops under the Supply brand.

There have been significant achievements in the current year which will contribute to the expanding profit potential of the company in the future:

  • Award of new tenders and the retention of current contracts for an extended period.  
  • Alignment of a new organisational structure – including the creation of a Strategic Advisory Board – which will contribute to the future growth of the company.
  • Investment into new products and services.
  • Investment into infrastructure, including a new virtualised server environment and leading-edge customer relationship management system.
  • Relocation of the business to a new HQ at Medius in Glasgow's Digital Media Quarter.
  • Infusion of the BiP values – Passion, Integrity and Respect – across the organisation

BiP Solutions has seen significant growth in its revenue over recent years. Even during the recent recessionary period, BiP has achieved growth in sales across its product range. This is driven by its policy of sustained investment in infrastructure, people and products. The company considers that this strategy will return increasingly sustainable profit growth.

The Directors are confident of continued strong performance in the year to 30 April 2011 and future years.

 

BiP Brands

tracker delta pass Contrax Select Accredit Supply Procurex National Procurex Scotland GO DCI