Trustmarque sets sights on growth


Trustmarque sets sights on growth

Simon Quicke

Trustmarque has revealed it has plans to expand both in its number of regional offices and possibly through acquisition after delivering a solid set of fiscal year numbers.

The reseller has been undergoing a transformation over recent years as it develops its services business and that is paying off with its gross profit  going up by 28% and its services division growing beyond the £7.1m it delivered in fiscal 09/10. Turnover increased by around 10% but on higher margins as the consultancy business delivered higher ticket sales.

Scott Haddow, CEO of Trustmarque Solutions, said that it had moved offices in London from Windsor to Chiswick and was looking to expand its workforce there and had 20 vacancies currently open.

The reseller has also ramped up its Scottish operation after a slow Q1 in its fiscal year but felt that it might have to expand further beyond its York HQ.

"I wouldn't rule out growing and running other regional offices. York is limited by its size, scale and the talent pool and so we might be looking to other expansion," he said.

One of the highlights of the fiscal year was the acquisition in May of cloud specialist Nimbus Technology Systems and Haddow said that it had already generated a pipeline of around 25 deals that were set to increase as more customers moved to hosted applications.

He added that although it was determined to grow organically more acquisitions were on the cards.

"We have got advisors engaged right now who are actively looking to find the correct target," he added "We started with a long list of around 40 but have got a shortlist of five to six."

He said it was still "early stages" and he would walk away from a deal if the terms were not right "I'm not getting hung up on the idea that I have to buy something".

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