Total today announced preliminary results for the financial year ended 31 December 2021. Revenue of £92m, represents year-on-year growth of 30% and continues Total’s impressive long-term growth.
Preliminary results also show a significant increase in operating profit, following strong demand for Total’s technical skills and services.
“We’ve been investing in our technical capabilities for several years now, and that investment really paid off in 2021,” explains Aidan Groom, Managing Director at Total. “We’ve an excellent managed services proposition and benefited from both new and expanded contract revenues last year, as well as winning several multi-year digital transformation projects. Apart from providing exactly what customers want, this type of technical services work offers us far more healthy margins than some of our traditional product supply work.”
“Although services aren’t new to us, it has required time and effort to assure customers of our capabilities. In the last year we seem to have passed a tipping point: we have great referenceability, are increasingly viewed as a strategic partner, and importantly are seen as a very easy organisation to work with,” adds Aidan Groom.
“Looking ahead, we’ve started 2022 strongly and are working on a couple of initiatives that will further increase Total’s appeal to customers and vendors alike,” concludes Aidan Groom.