126% increase in profitability confirms that Chess Telecom have delivered a strong trading performance over the last financial year, announced David Pollock, in his Chief Executives yearly statement.
Pollock, winner of the IOD’s Cheshire Director of the year award, said “We have good, innovative technology and provide a quality service. There are lots of opportunities for further consolidation and growth in our market,” he said. “Last year was very encouraging and I would expect turnover this year to be at least 20 per cent higher.” Mr Pollock added: “The prospects for further significant growth in profits are very good as we also look to increase the level of cross-selling.”
Chess have experienced substantial growth with the addition of 10,000 new customers through acquisition and organic sales growth, Net cash inflow from operating activities increased by 138% and gross margins grew to 37%.
Additionally, Chess’ continues to be a contributor to the wider community and its Corporate Social Responsibility program has been recognised and rewarded with several awards and accreditations over the past year. These include Sunday Times ‘Best Companies to Work For 2009’, ISO2001 Quality Management, ISO4001 Environmental Management, finalist for National Business Awards ‘Customer Focus’ and ‘Health and Wellbeing’ categories, British Chamber of Commerce ‘Green Award’, runner up in the North West Business Environment ‘Best Practice’ category, IOD Chess Director of the Year 2009 and most recently Cheshire Business Awards Employer of the Year 2009.
The future opportunity presented as UK businesses strive to reduce costs in this tough economic climate, coupled with an upturn in the number of acquisition targets coming to market, presents further opportunity for significant growth for Chess in the coming year.