In what has been a difficult year for the UK economy, Chess has once again delivered a strong trading performance with a 34% increase on normalized EBITDA to £7.1 million in 2011, announced David Pollock, in his Chief Executives annual statement.
“Our promise to our customers is simple: Great Service, Great Products, Great People and Never Beaten on Price – Guaranteed.” stated David, adding “Through our commitment to great service we’ve seen real success in encouraging our customers to buy additional products and services as well as commit to longer term contracts, guaranteeing our revenue streams for many years to come.”
Chess continues to successfully integrate telecom businesses with a further 9 acquisitions during the year boosted by a £21 million banking facility secured with Barclays. Net cash inflow from operating activities increased by 44% and gross margins grew to 43%.
Chess’ Green Team continues to deliver cost saving benefits to the business and reduce its environmental impact, allowing Chess to achieve its carbon reduction pledges for the year. Chess’ continued support of the Princes Trust also encourages Chess’ people to play their part in the wider community.
Pollock was delighted to see Chess listed as the only telecoms company in the ‘Sunday Times 100 Best Companies to Work for 2011’, being listed as one of the UKs fastest growing profitable businesses in the Profit Track 100, as well gaining the Customer First Award, being named the Institute of Customer Service – Quality Service Provider of the Year 2011, and maintaining the Quality standard ISO 9001, Environmental standard ISO 14001 and Investors in People Accreditation.
Chess continue to invest in operational and technological solutions to exceed their customers’ expectations and drive efficiencies through the business. Looking to the future David stated: “We are confident that our proven business model of acquisition, organic growth and cross sales to existing customers will deliver another year of increased profitability in 2012.” He finished his statement by thanking his employees, partners, suppliers and customers for their support and loyalty.