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Jan 14 2010

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Asite reaches profitability

It’s taken a while, around nine years in fact, but UK construction collaboration technology vendor Asite has finally reached profitability.

According to unaudited figures in a trading statement released on its website today, the London-based company had gross revenues of £2.079m in 2009 (up 10% from £1.89m in 2008), and partly by driving down operating costs 21%, the company delivered a £0.256m profit in the year to 31 December 2009, compared to a loss of £0.233m the previous year. Asite CEO Tony Ryan said:

“2009 saw the Group hit profitability despite the testing market. We grew revenues again by double-digit figures for the year – bringing it to twelve consecutive quarters of continued and sustainable growth….”

Analysis

The 10% growth is down on the figures achieved in previous years (26% in 2007, 14% in 2008,) – perhaps reflecting the industry downturn in the first few months of the year experienced by Aconex (post) and BIW (post) among others.


 

On previous trends, I had been expecting Asite to achieve break-even in 2008, but the market downturn clearly delayed that milestone. It leaves the former BuildOnline UK business, now absorbed into Sword CTSpace, as the only one of the vendors I monitor yet to have achieved profitability.

Permanent link to this article: http://extranetevolution.com/2010/01/asite-reaches-profitability/

4 pings

  1. Asite – steady | Extranet Evolution

    […] a dramatic reduction in losses, and Asite finally achieved profitability at the end of 2010 (see Asite reaches profitability). But if you compare these latest figures with the numbers released last January, they suggest that […]

  2. Asite’s Appbuilder and Platform-as-a-Service | Extranet Evolution

    […] While the company has apparently turned a corner, reporting its first (unaudited) profit last year (post), it still lags behind competitors such as BIW and 4Projects in terms of UK adoption, and Aconex is […]

  3. Asite reports 18 months to June 2009 | Extranet Evolution

    […] readers may recall that Asite reported some unaudited figures in January (see Asite reaches profitability), covering the year to 31 December 2009. This latest Companies House filing, signed off on 16 April […]

  4. Aconex (UK) Ltd – revenues down in 2009 | Extranet Evolution

    […] The 11 per cent drop in revenues is not as bad as the 19 per cent drop experienced by [my former employer] BIW Technologies (post), but – along with the figures just released for iSite (post) – shows that most of the leading UK-based construction collaboration vendors that have reported figures for 2009 were hit by the downturn in construction activity in the UK market – Asite being the exception so far (post). […]

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