Intrinsic Technology hails 2009 profit and sales surge

Unified comms and managed service provider Intrinsic Technology has navigated through the recessionary waters relatively unscathed, bolstering its top and bottom lines in fiscal 2009. Turnover grew 18% to £20.7m in the year to 30 November and operating profits went up nearly 5% to £1.15

Unified comms and managed service provider Intrinsic Technology has navigated through the recessionary waters relatively unscathed, bolstering its top and bottom lines in fiscal 2009.

Turnover grew 18% to £20.7m in the year to 30 November and operating profits went up nearly 5% to £1.154m, as retained profits more than doubled from £400,000 to £942,098.

This was the Merseyside-based firm's tenth anniversary and marks a decade of "unbroken revenue growth", said CEO Allan Gauld in the director's report accompanying the results.

"Revenue has continued its year-on-year growth, with an increase of 18% despite the year being impacted by the worst recession the UK has seen for a very long time," it added.

During the year it directed "a significant portion of investments" to expand professional and managed services skills and staffing levels crept up from 60 to 74 as Intrinsic sought to build scale.

"We have been successful in winning a number of new customers with ever increasing project values, a number of whom have been won from our competitors," it stated.

The director's report added the business' consulting and project services were growing in size, "with our enhanced managed services portfolio providing increased levels of recurring revenues, complementing our historical maintenance revenues".

"We continue to be optimistic about the future and expect to continue our growth into 2010 and beyond," it said. 

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