Arkphire reports operating profit of €1m
4 January 2017 | 0
Dublin-based IT services and networking company, Arkphire, has reported an operating profit of €1 million on sales amounting to €52.6 million for the 12 month period ended 30 June 2016 in accounts recently filed with the Companies Registration Office (CRO). The results represent a significant improvement in the performance of the business with profits almost doubling from €530, 974 in 2015 to €1,015,999 in 2016 and turnover up 62.8% compared to the previous year.
During the year, Arkphire acquired networking solution provider, Bootstrap, in a strategic play that will now position both companies to be able to offer enterprises the full spectrum of IT services. Due to the timing of the Bootstrap acquisition, earnings for the newly acquired business are not included in Arkphire’s consolidated financial statements for the period ended 30 June 2016.
Arkphire CFO Jimmy Dalton said: “Both operating profit and turnover for the business are significantly up on last year. This excellent result was driven primarily by the expansion of Arkphire’s customer base and the strong performance across each of its’ principal activities covering managed services, IT consulting, product procurement and logistics.”
According to Dalton, Arkphire is forecasting turnover to €70 million in the next financial year with profitability to double and a further 35 people to be recruited over the next two years. It has achieved an average 400% growth in revenues since 2011, and in 2016, was listed among the Deloitte Technology Fast 50.
Arkphire’s customers cover large multinationals, Irish organisations and public sector agencies within a wide range of industries including telecommunications, finance, pharma, healthcare and energy. The company employs more than 75 people in Dublin and London.