A trading update from 4Projects says the Sunderland, UK-based SaaS construction collaboration technology provider (now part of Viewpoint Construction Solutions), has:
“continued its strong business performance by posting double digit recurring revenue growth during the first half of 2013 and increased their enterprise customer count by meaningful double digit percentages as well. The 4Projects business is healthier than ever with much of the recent success being attributed to strong sales in the core EMEA business, as well as new international customers in the U.S., South Africa, Australia, Qatar and elsewhere.”
No figures are provided to give additional substance. 4Projects financial year-end is 31 March, so it is due to file its 2012-2013 accounts at Companies House very soon. In the previous year, it reported revenues of just under £5.1m and a pre-tax profit of nearly £1.9m (January 2013 post), and the signs of ‘double digit’ growth were already clear.
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It seems a little odd that Viewpoint should part company with Richard at the same time as announcing apparent impressive growth. The revenue impact of this double digit growth should make interesting reading when the figures for this period are available.
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I have a follow-up blog post on this (coming soon!). I think Richard deserves a lot of credit for launching the business and guiding it through 13 years of ups and downs, and he probably wants a break and chance to do some new things or catch up on things that were sacrificed while he focused on the business.
Viewpoint are very clearly committed to helping the business expand and become more global, so, while relinquishing the helm, he can be reassured that the ship is still full-speed ahead, albeit under new officers.
Hi Paul. I certainly wasnt questioning Richard’s role in leadfing 4P through the last 13 years as like you I know only too well how difficult the UK constuction market has been for much of that period. It was I guess more the timing of both announcements (days apart) that seemed a little at odds to me.
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