Europe’s largest independent IT group SCC has announced record earnings for the fifth consecutive year driven by customer demand for digital services and cloud strategies.
The SCC EMEA Group’s full year results for the financial year ending 31 March 2018 showed revenues reaching a record £1.8bn and EBIT of £27.7m – a 10% growth year-on-year.
Other financial highlights of the year include: £1.8bn turnover, up 9% across EMEA; EBITDA at £45m up 9% across EMEA; group services at £325m – up 4% year-on-year; earnings of £16m for the UK business (before interest and tax); strong EBIT growth in both Spain and France; and net assets £147m, up 7%.
“Performance of the business over the last year has been exceptional with growth and improved profitability in all our key trading operations,” said James Rigby, SCC Chief Executive. “There is now a need for all businesses – whoever they are or whatever they do – to digitise their operations, and outsourcing that requirement is an effective way to manage the continual investment needed for growth. We have invested over the past few years via our cloud services and data centres in anticipation of that demand and we expect to continue our current performance levels in the coming years.
“We will continue to invest in our capabilities and that means areas such as artificial intelligence and cognitive computing where we are already well-placed to meet customer demand.”
Operations in SCC France and the UK continue to drive the majority of SCC’s turnover (96%) and profitability (94%) and this is expected by the group to continue to be the case for the foreseeable future.
Key customers for the UK business include the BBC, NHS, the Police force, a range of FTSE 100 companies, banks and a significant number of private sector firms including British Airways and BAE Systems.