DataSolutions reports record group revenue of €40m
16 August 2018 | 0
Specialist IT distributor DataSolutions, has announced an increase in group revenues by 34% to €40 million for year-end 31 March 2018.
The figure represents a doubling of the company’s business over the past three years.
DataSolutions expanded its operations to the UK at the beginning of 2016, investing more than €5 million in the expansion, taking on new employees and strengthening its partnerships in the market. The UK market now accounts for 30% of DataSolutions’ business and the company expects this to grow to 50% in the next three years.
Part of this expansion fund will be set aside for acquisitions in the UK and Ireland.
Michael O’Hara, group managing director, DataSolutions, said: “2017 was DataSolutions’ best year yet and it’s extremely positive to see our business continue to grow as we work towards our goal of doubling revenues to €80 million in the next three years.
“After almost three decades of growth in Ireland, it’s been a novel, exciting but also a challenging experience growing from a start-up position in the UK to build our brand there. Establishing a foothold in the UK opens huge possibilities for us and doing so in advance of Brexit is something that we feel is a smart step in future-proofing the business from whatever the final outcome may be.”
“We have ambitious growth targets for the Irish and UK markets. To achieve these goals, we are developing an expansion fund that will allow us to selectively seek acquisitions of complementary businesses in both markets.
“Both our Irish and UK partners expect the same high level of service and professionalism we have always delivered. They also expect strong marketing support and this has helped to set us apart from our competitors in the market as marketing has always been one of our core strengths.”