Enables IT lifts lid on growth plans, plots M&A spree


Enables IT lifts lid on growth plans, plots M&A spree

Alex Scroxton

Network and virtualisation specialist Enables IT has posted its first set of annual results following its reverse takeover by managed services provider Nexus Management in October 2012 and revealed details of its future strategy.

Michael Walliss, former Enables MD and recently appointed CEO at the Cisco, Mimecast and VMware partner said that following the takeover the firm was taking the opportunity to raise funds to embark on a strategic acquisition drive.

“This will strengthen the business and minimise our reliance on a small number of existing large customers,” he said. “The implementation of this strategy is already well advanced.”

The firm has also relocated its head office and operation facility to a new building in Leatherhead, Surrey – though it has maintained its old City of London base – and launched a UK cloud platform through its Tier 1 partner in London.

In the coming months it will also look to recruit to strengthen its sales and marketing department.

AIM-listed Enables revealed it had made a small increase in revenue compared with the previous year, coupled with a healthy boost to operating profits thanks to cost restructuring within the firm.

Total sales of £4.27m were up from £4.12m this time last year and operating profit grew from £281,635 to £351,924, although the firm also copped to a pre-tax loss of £265,477.

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