Total today announced results for the financial year ended 31 December 2018. Revenue increased 7.7%, to £70.5m, to continue Total’s impressive record of year-on-year growth.
“We’ve achieved a fifteenth year of growth and at the same time continued to transition the business, from being predominantly a reseller into one that is also a highly skilled services provider,” comments Aidan Groom, Managing Director at Total. “Technology’s complexity, pervasiveness and pace of change continues to increase. As a result, customers’ need trusted partners that can help them determine best strategy, implement the technology, and manage and support it.”
In 2018 Total invested further in its technical skills and capabilities and in August 2018 successfully moved to a new Centre of Operations and Head Office. This enabled the business to expand its managed services operation and provides the platform for further growth.
“Our 2018 investments have caused a one-off reduction in operating profit, with £350,000 of this the result of non-recurring costs relating to the move,” explains Aidan Groom. We’ve also seen some short-term costs from investments made in strengthening our technical capabilities, which will facilitate further growth in our contracted revenues.”
Operating profit for the year ended 31 December 2018 was £1.3m (2017: £1.77m), while revenue increased 7.7% to £70.5m (2017: £65.5m).
“We’re already deriving benefits from our 2018 investments and have started 2019 well – with revenue and operating profit for the first half year showing pleasing growth over the same period last year,” adds Aidan Groom.