Keeping my records up-to-date, I checked on the financial results of UK construction collaboration technology vendor 4Projects for the year ending 31 March 2006 at Companies House. It seems I was a little over-optimistic about my April 2007 guess-timate for its performance….
Instead of reaching £2.7m turnover, it managed £2.291m, up 10% from its 2005 figure of £2.082m. Pre-tax profits were given as £124k, less than half the £266k achieved in 2005.
The turnover figure places it some distance behind BIW Technologies [my employer] which turned over £4.66m in the year up to 30 September 2006, and behind both the former BuildOnline (£2.793m; see CTSpace post) and Business Collaborator (£2.35m – post).
Of course, if 4Projects did indeed achieve a turnover of around £3.4m up to March 2007 (as then chairman Paul Callaghan claimed back in April) or even the £3.2m claimed in August, this amounts to significant growth: around 48% or 40%, depending on which figure you believe (both prior to 4Projects’ MBO in July, of course). But I guess we will have to wait until the March 2007 figures are lodged with Companies House to find out what the audited figures were.
Update (10 October 2007): In response to a comment from Frank Carron at Aconex, I should clarify that the graphic refers to turnover accounted for in the UK (the CTSpace figures are based on reports for BuildOnline (UK) Ltd – prior to the Citadon merger, BuildOnline (Holdings) had total international revenues of £4.2m – see May post). Aconex’s global revenues are, as previously stated, c. £4.875m, but to date only itself and, more recently, Asite have started to give a geographical breakdown of revenues (my CTSpace figures were gleaned from newspaper reports). If and when more of the vendors adopt a similar practice, I will present both global and UK-based figures.