ICT service provider Stone Group has announced its financial results for 2012, with record revenues and growing profits.
The company saw its turnover grow 12.7 per cent to £73.7m, up from £66.6m in 2011.
“I am delighted with the results and the record turnover,” said Simon Harbridge, CEO at Stone Group. “In a year of investment, particularly with the establishment of Stone Professional Services Division enhancing our ability to design and implement the latest infrastructure solutions for our customers, it was pleasing to see EBITDA before exceptionals increase by 11.1% and a very strong cash inflow from operations of £4.6 million (2011: outflow £0.2 million).”
In addition to Stone Professional Services, lifecycle management services were expanded during the year with a view to doubling the capacity of both the business’ internal repair centre and the recycling and refurbishment business.
“Our strong and growing core hardware business continues to deliver industry leading service levels and therefore best value total cost of ownership, consolidating our position as the leading UK manufacturer and supplier of choice to the UK public sector. We are also growing our professional and lifecycle management services alongside ensuring a balanced and sustainable business for the long term,” continued Harbridge.
“The signs for 2013 are extremely positive with the business achieving our largest ever Q1 number in our 22 year history.”