EIT Group has announced record earnings for the sixth consecutive year driven by continued demand from businesses seeking outsourced Cloud and digital services.
Full-year results for the financial year ending 31 March 2019, for the SCC EMEA Group, showed revenues reaching a record £2.2 billion and EBIT of £28.2 million – a 1.7 percent growth year-on-year.
The outfit said that its record level of turnover reflects strong performance in the product divisions in both France and the UK, with a growth of 20 percent and 23 percent respectively. In all territories, services turnover also grew during the year to £337 million, a growth of four percent.
The UK represents 65 percent of operating profit delivering £18.7 million up 16.9 percent on last year. France saw a slight reduction in operating profit of 0.3 percent driven by margin pressure and a challenging environment in the operations of the services.
James Rigby, SCC Chief Executive, said: “We are pleased to achieve another record year of growth and profitability. All companies today are digital and operate in digital environments, and this presents great opportunities for us.
“The focus across the group will remain on the successful strategy of growing our services business and developing the right value-adding product business for our customers to help them unleash their potential.
“During the year, we have significantly invested across all of our capital programmes. Re-investing profits back into the business is a key part of our strategy to ensure that the group can change to meet the needs of our customers and remains relevant for the future.
“Funds are available to support continued investment programmes, organic growth and targeted acquisition opportunities. We have a strong and resilient business based on long-term relationships and a sound strategy which is proving successful in growing profitability.”
