Asite grows revenues by a quarter and profits by a fifth in the year to June 2013.
London-based SaaS construction collaboration technology provider Asite has announced it grew its revenues 25.6% in the financial year to 30 June 2013, from £3.193m in 2012 to £4.011m, publishing its latest report and accounts (PDF; news release) yesterday.
The black line in the graph above suggests the company has made a significant advance, but it is the first of the leading players to report on its recent progress. UK rivals – eg: 4Projects (May 2013 post, September 2013 trading update) and Conject (post) – have both also been talking bullishly about recent trading performances.
In the year to June 2013, Asite returned a pre-tax profit of £0.511m (up 21.7% from £0.42m in 2012).
So, on both revenue and profitability, Asite has continued the upward trend of recent years. A significant portion of that growth came from the Australian market, where Asite reported 2013 revenues of £557k, more than triple the £168k achieved a year earlier. US revenues more than doubled from £60k to £150k in the same period (Asite announced a new VP Sales for that market in July). The UK market saw revenues a more modest 10% up – still encouraging given the recent recession – and accounts for most (78%) of the company’s income.
The report, however, includes no breakdown between revenues from the company’s collaboration activities and those relating to its procurement/transaction hub.
Staff numbers were up to 104, from 90, almost solely through expansion of the India-based technical team.
In the Asite news release, CEO Tony Ryan is typically bullish:
The Asite team has delivered yet another record breaking year in terms of revenue, profit and best in class technology. … We continue to innovate, create and maintain sustainable growth, whilst showing others the way.
Adoddle is quickly becoming the number one Cloud solution for our industry and beyond – I’m grateful for being part of the best Team I have ever worked with in my 27 year career. We have not once shirked from our responsibility in delivering the most up to date services and technology to our clients. Our Asite family continues to grow at break neck speed. Our focus on Corporate or “Cocial” collaboration, as we call it, is trailblazing our platform to new levels. Coupled with the fact that we are leading the way in collaborative Building Information Modeling (cBIM) with our state of the art Cloud Based Model Server (CBMS) – the future is back.’
I am sure his repeated front-runner claims – Asite is “showing others the way”, “becoming the number one Cloud solution”, “trailblazing” and “leading the way” – will be contested by some competitors. But, after so many years in the financial doldrums, there is no denying Asite is continuing to advance.