The somewhat cautious outlook expressed by SaaS construction collaboration technology provider Unit4 Collaboration Software a year ago appears to have been only partly justified. While it has yet to return to the £3m-plus turnover it enjoyed in the pre-financial crisis days of 2008, revenues for the year to 31 December 2010 were up 5% and it increased its profits by a healthy 41% – its fifth straight year of profit growth.
In 2010, Unit4 Collaboration made a profit before tax of £379,755 (2009: £268,950) on a turnover of £2,988,770 (2009: £2,842,679). Nonetheless, for the third year running (and perhaps influenced by recent talk of a continued recession affecting the UK construction market), the directors give exactly the same future outlook:
“The decline in the general economic climate has affected customers of the Company, particularly those in the building industry. The directors recognise that the Company is unlikely to deliver sustainable growth in the coming year but believe that the business outlook has stabilised and by focusing on customer care they are confident that current levels of activity can be maintained.”
In August, Unit4 Collaboration MD Sanjeev Shah said the company “continues to make encouraging progress … are performing well and… have achieved our target for H1 2011.”