Krome Technologies reports strong financial year results with 19% growth in profits and 12% growth in turnover
Following its ninth year of trading, Technology Consultancy Krome Technologies today announces a strong set of financial results and operational performance for 2017/18
Founded in November 2009, Krome Technologies have continued to build on their strengths year on year, demonstrating a steady growth pattern. Krome, whose financial year ended 31 October, have seen its year-end in its strongest position to date, with turnover exceeding £15m for the first time, increasing its annual turnover by 12% to £15.3m, with Profits up by 19% from last year.
A contributing factor to its success this year has been the increase of its recurring revenue stream, with this area of the business growing by nearly half again over the previous year. The business has seen a growth in demand for its managed service business; increasing and enhancing its offering, attracting new clients as well as expanding its level of support and services within its existing client base.
During this time, the business has continued to add skilled and experienced staff to the team, growing its staff significantly, with new hires in its already extensive technical, deployment team, back office, warehousing and sales teams.
To facilitate its plans for continued growth, the business has been investing heavily in its people and its internal culture.
Sam Mager, Krome Technologies Founder and Commercial Director said:
“Being able to report such fantastic growth is very satisfying, it validates that the decisions we have made with our strategy are working. Over the last two years we have invested time and money to ensure that our core values are communicated throughout the business, and this is paying dividends.
Our staff satisfaction and client satisfaction levels are the highest they have ever been and this is reflected in the business we are delivering.
Internally we have been running a number of initiatives, enabling staff to step up and have more control of the business they work in. This has reinforced our people first culture and given our team members the opportunity to really make a difference within our business; the impact this has had has been incredible.”
Over the past year Krome have successfully secured contracts with a number High Street names and continue to be an extremely strong player in the retail, health care and the financial markets.
With the first couple of months of the new financial year under their belts, Krome are already tracking to break this year’s record results by a similar margin.
Rupert Mills, Krome Technologies Founder and CEO said:
“With uncertain times ahead, it is important that we keep to the core values that have got us to where we are today and that we continue to use them as the platform for growth. Our annual client satisfaction survey continues to return one word that stands out over and above the others, “trust”. We value that our clients see us as a trusted partner and with such uncertainty in the market, clients will be looking more and more for people they can rely on to help them during what could be difficult times.
Our clients are benefiting from our ability to deliver a full end to end solution in house and our plans for the next financial year are to grow and enhance our offering further. We have always been known for the quality of our people and the work they deliver, over the next year our investment in both our people and our service offering will continue to ensure we stand out in a congested market.”
As well as delivering record profits and growth, Krome Technologies have this year selected to also support a local children’s hospice charity, Shooting Star Chase. Having already completed a few smaller events in order to raise money for the charity, Krome are committing to a number of events throughout the next calendar year to raise money for the Charity. From gift wrapping over the festive period and volunteering in their shops right through to taking part in the London Marathon in order to raise money for the Charity, Krome are committed to raising as much possible for the charity over the coming year.
“As with any business, our primary focus is to generate revenue, however we have an excellent vehicle to give back to our local community and we are proud to be working with local Children’s Hospice Shooting Star Chase, a charity that provide care for babies, children and young people with life-limiting conditions, and their families. If they can benefit from our staff committing to working with them and taking part in charitable events on their behalf, then that is an amazing way for us to give something back. We are very proud of our growth and if this growth can be of a direct benefit to a charity such as Shooting Star Chase, that is something else for us to be hugely proud of”. Mager added.
The company has an ambitious vision: to be the UK’s most people-centric technology consultancy. In addition to its focus on delivering the highest service levels and leading technology solutions for their customers, Krome are also committed to investing in their people, internal systems and overall business culture to deliver an enhanced customer and employee experience.
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