Firm adding BT Openreach exchanges to its network and has recently launched channel business
Scottish telecommunications provider Commsworld posted “on par” revenues of £9 million for the year-ending December 31 2013, an increase of 3.5 per cent on the previous year.
Gross profit also increased, by £130,000 to just over £2 million, although net profit fell to just £44,000 (2012: £147,000).
The Edinburgh-based firm sells its services primarily to the Scottish business community.
Chief executive Richard Nicol told Mobile News the business was undertaking significant investment in its own network, and was well placed for growth.
“The performance is on par – what we’re doing is we’re making serious investments and we’ve got a long-term business.It’s not a short-term goal,” he said.
“We’re growing the network and we’re building recurring revenues over a number of years and that allows us to do the things [investments] that we’re doing over a number of years.
“We’ve got recurring revenues for three years which are £23- £25 million and they’re growing exponentially.”
That investment is coming in the form of staff, with numbers increasing by 10 per cent to 62 in the past year alone, and in its core network. In recent months the firm has announced plans to increase to 19 the number of unbundled exchanges it operates, where it installs its own technology on BT Openreach sites.
“All are in Scotland. The long- term plan is to have at least 31 exchanges in its network and this has led to the launch of a channel division in recent months.It has a total of eight companies reselling its services and expects to add more in the coming year.
“What we’re finding is the latency and quality of the network some companies were getting from the big carriers just doesn’t cut the mustard,” Nicol added. “We hired a partner manager to look after the demand because there were a lot of companies approaching us.”
Nicol also revealed the firm expects to complete a number of acquisitions including one which is currently under an NDA.