Another Strong Year for UKFast as Turnover Tops £40m
Article date: Tue, 16 May 2017 14:58 GMT
It’s been another strong year of growth at technology firm UKFast, as acceleration in the cloud market and high client retention rates drive a £5.7m increase in sales, taking turnover to £40m in 2016.
In financial figures announced today, UKFast showed a 40% revenue increase in the firm’s expanding eCloud range – which now delivers more than £14m annual revenue – a 6% increase in customer numbers and an overall EBITDA of £17.6m.
The thriving cloud provider doubled turnover in the four years since 2012, achieving a compound annual growth rate (CAGR) of 18.9%. These figures saw UKFast rank in the recent FT 1000 index of Europe’s Fastest Growing Companies.
UKFast CEO Lawrence Jones said:
“It's difficult to pin one or two successes down as the defining moments of the past year. Our eCloud range continues to energise the British tech community and UKFast’s growth is, as ever, down to the efforts of the whole business – from the R&D department through to the breakthroughs in the way we support people 24 hours a day.
“Our focus on training and development undoubtedly impacts hugely on the bottom line. My personal highlight is the creation of a sales and leadership academy to train young professionals and move them into exciting roles across the UKFast Group. Getting that process just right has been 17 years in the making and it’s now paying off.”
UKFast's training and development centre represents a £4.5 million investment from Jones and the firm took on 50 apprentices last year.
A growing emphasis on education also sees UKFast team up with leading educational provider The Dean Trust to launch a new high school focusing on digital literacy in Manchester. The new school received approval from the government last month and is set to help tackle the growing skills gap in the region.
“Whilst we are pleased with our growth to date we are confident UKFast is set to accelerate with our expansion into public sector, cybersecurity and R&D. Some of the things we are working on are mind-blowing.”
UKFast is on track for continued success in 2017 as it prepares to expand into a second 40,000 sq. ft. building adjacent to its current campus in Manchester Science Park.
“In October we get the keys to our new building, which is just as well as we’ve tripled our team in the last three years and we’re bursting at the seams.”
Jones has a reputation for building dynamic working environments, with UKFast Campus boasting an auditorium, bar, gym, steam room, 70 ft. slide and an indoor pond. He plans to develop a similar space in the new building for his rapidly expanding business empire.
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