Quantix H1 Financial Results


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The financial results for Quantix, H1 2010. This also demonstrates the rapid growth of the cloud services contribution.

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Quantix H1 Financial Results

  1. 1. Quantix H1 FY10 Financial Results - Highlight Managed Services & Cloud Computing Success Quantix, one of the UK’s leading providers of IT managed services, cloud services and enterprise application support, has released its financial report for the first half of the current financial year. It presents extremely promising results and forecasts, whilst also indicating that its substantial investment in Cloud Services has already begun to increase profit margins. The financial results, which cover the period October 2009 to March 2010, show turnover for the first half-year at £4m, with profits for the same period of £0.9m, and a contract base of £6m. Quantix also declared its forecast profit for 2009/10 is now likely to be £2.1m, which would show substantial year-on-year growth of 23%. In addition, it was announced that Managed Services and Cloud Services now account for almost 65% of all company margin – a position that Quantix was not expecting to reach until 2011. The company has recently invested heavily in a second data centre to enhance, develop and add further resilience to their cloud services, bringing cloud computing and application support expertise together. This ground-breaking move has enabled Quantix to expand their range of managed services, generating new lines of business and securing more contracts from both existing and new clients. Richard Salmon, Managing Director of Quantix, explains, “We are extremely pleased with the growth in our contracted services and developments across the business. Our recent investment and expansion of services has been hugely successful and we are seeing substantial demand for our new cloud-based services, including RapidRecovery and the OraCloudTM, which looks set to increase further throughout 2010. In addition to attracting new clients, our existing clients continue to come back to us for further services due to our consistently excellent delivery. We are extremely proud to announce that Managed Services now account for almost 65% of all margins, a target which we’ve achieved more than a year earlier than expected.” Throughout the first half of its financial year, Quantix gained over 75 new customers and 25 new managed service contracts, with a number of notable six figure contracts having been signed. In addition, wins in the Cloud Computing space continued to come thick and fast, with just over £500k of new cloud contracts secured in the first half of the year. Quantix, already a holder of the ISO 9001 accreditation, expects to gain the ISO 20000 accreditation later this year, whilst continuing to develop and invest in the company’s infrastructure, personnel and services. “Much of our continued success can be attributed to the extremely talented and experienced teams of Account Managers and Technical staff here,” explains Simon Goodenough, Sales & Marketing Director, “Our unparalleled expertise of both technology and the market place provides our customers with the very best solutions, tailor- made and implemented to their exact needs.” Financial Results - H1 FY10 Forecast Profit 2009/10: £2.1m (growth of 23% YOY) H1 Turnover 2009/10: £4m H1 Profit 2009/10: £0.9m H1 Contract Base 2009/10: £6m