BiP announces strong growth in 2007/08
18 August 2008
Pre-audited annual financial results to the end of 2007/08 show continued strong growth across all BiP Solutions Ltd’s product sectors.
Revenue again achieved double-digit growth, with strong showings from Consultancy and Events. Overall profits increased by in excess of 20% year on year.
“2007 was yet another successful year for BiP Solutions,” said Ron Burges, Chief Executive Officer of BiP. “We were successful in winning a significant number of new long-term contracts to provide both IT and consultancy related services to the public and private sectors. We also achieved the highest accolade of being voted Scottish SME of the Year 2007. The challenge for us in 2008 is to not just weather the downturn in the current global economy but to continue to expand both sales and profits. We believe with our strong market focus, expanding product portfolio and continued high investment in people and new technology we will do so.”
BiP finished the 2007/08 financial year with strong cash reserves for future investment in mergers and acquisition activity and infrastructure expansion, both of which are key features of the company’s three-year business plan.
Year on year, BiP increased its overall subscriber base still further and saw clients increasing their uptake of value added products, so delivering sustainable value per client growth.
Mr. Burges added: “Our ethos is based on delivering sustainable growth. During the coming year we will launch the first of a new range of products delivering market intelligence for the business community. At an operational level we have expanded both the Executive Board, with two new appointments, and the Operational Board, so that it will benefit from the input of a broader range of manager expertise.”
