BCN Group more than doubles turnover to £24m
BCN Group, an IT managed services and digital transformation company, has seen reported turnover increase 110% year on year in FY19/20.
The substantial growth saw turnover more than double from £11.3m in FY18/19 to £23.8m in FY19/20, with the impressive trajectory set to continue for FY20/21 with an expected turnover of £30m.
While growth was enjoyed across the business, BCN Group’s “as a service” division posted the biggest increase with recurring revenue up 29% year on year.
Growth was driven by onboarding 64 new clients during the 12-month period, with BCN Group now providing services to more than 1,000 organisations and supporting more than 30,000 users in the UK.
The results include BCN Group’s acquisition of Polymorph Ltd in February and also reflects the first full year of contributions from its acquisition of Leeds-based Blue Logic in 2019.
Simon Kelf, CEO of BCN Group, said: “It has been an incredible year for BCN Group that has included a major acquisition and the onboarding of more than 60 new clients. We have ambitious growth plans and are delivering on these plans faster and more effectively than we could ever have wished for and are delighted with the growth we are seeing.
“Ultimately this is driven by our market-leading product and service offering, and the incredible talents and skills of our growing team of specialists and experts. While it has been a tough start to the current financial year, we have continued to grow rapidly since March and have been working more closely than ever before with our 1,000+ customers.
“This has not only helped them survive Covid and prepare for the “new normal” but it has put BCN Group in the driving seat to reach and surpass its own targets once again. I’d like to thank each and every member of the team for their dedication and passion, and to our partners for continuing to take advantage of our best in class product and service offering.”