Licensing MSP, Crayon, has reported gross profit growth of 23 per cent in its second-quarter results.
The company saw £110 million in gross profit in the second quarter with its software and cloud its fastest growing business at 30 per cent growth, while its consulting, software and cloud economics businesses followed on at 29 and 28 per cent.
Europe was Crayon’s biggest growing market in the second quarter with 50 per cent gross profit growth, followed by the US at 31 per cent.
The Nordic region closed at 16 per cent growth and APAC & MEA at five per cent.
Crayon reported that the performance in Europe reflected a “proven and replicable business model”.
The company argued that the sustained growth in Europe was the fruit of investment in regional management appointments to drive growth and value creation. It also claimed that focused investment in SCE capabilities was fuelling software and cloud sales.
CEO Melissa Mulholland and CFO Jon Birger Syvertsen attributed the success to strong market growth, its global software and cloud business scalability, and the expansion of service upsell.
“Savings on software and cloud spending continue to resonate in this macroeconomic environment where CIOs face cost pressures and expectations to deliver maximum ROI,” said Mulholland.
“With our capabilities and services-led go-to-market, we are uniquely positioned to capture a market opportunity, further drive growth, and create more customer value.”
