IT and fixed-line business sees growth while roaming declines impact mobile
Excalibur Communications saw its turnover and profits hold firm in its 2019-20 financial year, despite a Covid-influenced hit to its mobile earnings.
The Swindon-based dealer’s turnover for the year stood at £9.3 million, up one per cent from last year, while EBITDA was £1.6 million, the same as last year.
Excalibur’s main growth was in IT and fixed line, where its revenues grew 10 per cent year-on-year from £4 million to £4.4 million.
Additionally, Excalibur completed the Management Buy-Out (MBO) it began in 2018, which saw former CEO and executive chairman James Phipps step down. It also invested in a new core IT system that it says will make its day-to-day operations more efficient. The dealer also moved to new offices in Swindon.
However, its mobile revenues declined by four per cent annually, which the dealer mainly put down to a reduction in international travel due to the Covid-19 pandemic.
CEO Peter Boucher (pictured) said he was “encouraged” by the results, which showed the company’s resilience in a challenging economic period.
“We’re encouraged by this solid set of results at what has been a particularly unusual time for the UK economy,” he said.
“Whilst Coronavirus has caused enormous disruption, we have fantastic employees who have shown great resilience and adaptability in continuing to deliver an outstanding service to customers.
“This has been recognised in the awards we have received for service, staff engagement and wellbeing. Our strategic investment in a new IT system and a move to new offices puts us in a strong position to achieve continued growth over the medium and longer term as the UK economy recovers.”
As well as demonstrating financial resilience, Excalibur also took home this year’s Vodafone Regional Partner of the Year award, and was named a Sunday Times 100 Best Small Company to Work For.