The UK operation of Australia-based online construction collaboration technology vendor Aconex tended to lag behind its home-grown competitors, but in the past couple of years it appears the London office has made a great leap forward. The latest published results (up to 30 June 2008) show it dramatically increased its turnover and reported a healthy profit, vaulting it ahead of some of its longer-established local rivals.
Before the current recession really took hold, in the 12 months to June 2008, Aconex (UK) Ltd reported revenues of £1.909m, over three times the £0.552m it achieved the previous year (see Aconex (UK) Ltd – 2007 update). Simultaneously, a slight loss was replaced by a healthy pre-tax profit of £0.732m.
The UK business has also been expanding operations in eastern Europe and north Africa, establishing collaboration subsidiaries in Romania (Aconex Romania) and in Algeria (Aconex Maghreb); when I met Aconex operations director Paul Perrett recently he confirmed the success of their ventures into eastern Europe and into north African states.