4Projects bucks the trend
4Projects is celebrating outstanding financial results for the year ended 31 March 2009. Revenues have grown to £5.5m from £4.4m, a growth of 25% as 4Projects continues to meet and exceed its clients’ expectations. Profits, measured by EBITDA, have grown from £1.7m to £2.1m in the year equating to growth of 22% as the business continues to outperform its competitors and the general economic outturn.
4Projects completed a management buy-out (MBO) in July 2007. This saw inward investment from August Equity which has allowed the business to go from strength to strength.
Finance Director Steve Nelson commented “our results show that we have a robust business model that is able to withstand the current harsh economic climate. The year was full of positives for us. We grew both our turnover and profitability, improved our cash position and generally strengthened an already strong position in our market.”
In addition, 4Projects has been able to diversify into new vertical markets and new geographical territories in Europe, USA and Canada. Managing Director Richard Vertigan said “the expansion plans we have been able to put in place this year are testament to a strong management team which has been able to spot opportunities whilst some of our competitors have been concerned with cost-cutting and survival.”