Revenue for the year to 31 December 2011 was steady at 拢101m (2010: 拢99m) but operating profits were up 75% to 拢1.9m (2010: 拢1.1m) and underlying pre-tax profits more than trebled to 拢1.8m (2010: 拢500k).
Framework arrangements in the banking sector accounted for nearly half - 拢47.9m 鈥� of the revenue and repeat business from retailers provided a significant contribution to revenue of 拢33.7m.
That 57% of revenue was secured from repeat business and 65% from framework agreements is the result of focusing on strengthening existing customer relationships, said CEO Tony Lenehan.
鈥淥ur ability to grow revenue and margin despite the challenging market conditions endorses the group's focus on engagement with customers, our diversified offering, as well as improved operational efficiencies,鈥� he said.
鈥淲e have continued to deliver strongly in our core sectors, especially within banking and high end retail while at the same time securing new revenue streams including a number of contract wins in the public sector.聽 While conditions in the property support services arena are expected to remain challenging in the short term, the group's proven ability to win contracts across new sectors gives us confidence in our business model and our ability to increase market share."
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