Wednesday, December 07, 2011

Record £7m profits at Chess follows time of acquisition

Posted by Admin On 11:03 AM

Telecoms group Chess today state publicly another year of record revenues and profits as its acquisition habitual continues. Chess, based at Alderley Edge, complete nine takeovers in its last financial year at a cost of £4.5m. Since then, Chess has bought six more companies after securing a £21m war chest from Barclays in April.

The firm post original pre-tax profits before exceptional items of £7.1m in the 12 months to April 30, a rise of 34 per cent on the previous year's figure of £5.3m. Revenues grew 12 per cent from £29.1m to £32.7m.

Chess, which make accessible mobile and fixed-line services, broadband and BlackBerry products to companies and public sector organization, said margins rose from 40 to 43 per cent during the year. Bottom-line pre-tax profits were up from £3.55m to £4.6m.

The firm said it enjoyed achievement with supplementary product sales to its clients and by inspiring more to enter long-term contracts. It said 81 per cent of customers are now slender for two or more products and 53 per cent for two or more years.

Founder and chief decision-making David Pollock hail a strong trading presentation, adding: “Our proven commerce model of acquisition, organic growth and cross sales to available customers prolong to deliver growth in turnover and profit.”

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