According to a 24 March 2007 article, Jobs created as group wins new markets, in north-east England newspaper The Journal, UK construction collaboration vendor 4Projects has “currently” achieved sales of £3.4m, and “is expected to reach £5m by the beginning of next year”.
4Projects non-executive chairman Paul Callaghan said: “With 4Project [sic] we supply project management software services to 80,000 users throughout the world; we have a business that is involved in projects in the construction, utilities and retail industries to the value of £16bn.”
It is not really clear to which year the £3.4m relates. 4Projects’ financial year ends on 31 March. The last published claims regarding the company’s turnover and revenue came in May 2006, when Contract Journal reported 4Projects turnover for the year ended 31 March 2005 as £2.1m (see post); I haven’t seen any figures for the FY ending March 2006, and it’s obviously too soon to expect audited figures for 2007.
However, I suspect Mr Callaghan’s claims do relate to its financial year just finished. 4Projects’ turnover grew by about 30% in the year 2004-05; assuming similar growth over the following two years, 2005-06 turnover would be around £2.7m, so 2006-07 sales of £3.4m would seem about right.
To put this into context: fellow collaboration competitor Styles&Wood StoreData saw turnover grow 38% to £1.59m in 2006 (see post), while Business Collaborator grew turnover 22% to £2.35m in the same period (post) and BIW (my employer) grew 16% to £4.66m.