Following last week’s post about iSite (the construction collaboration – sorry, make that property management – technology business formerly known as StoreData), I have been looking at the business’s recent financial performance – as revealed in the latest interim report (PDF) from parent company Styles & Wood, published last week.
In the six months to 30 June 2010, the business performed at a similar level to last year, generating revenues of £0.582m (compared to £0.589m in 2009 – see post), with the £0.105m profit (up £2k from £0.103m last year).
Twelve months ago I noted a trend across several of the UK collaboration vendors, showing a slow-down or even a reversal in fortunes due to the impact of the recession. The UK construction industry – or at least the retail-dominated sectors in which iSite competes – clearly hasn’t bounced back sufficiently to boost the business’s performance since last summer. Certainly, the talk I hear from vendors is one of continuing price pressure.