The financial fortunes of the smaller players in the UK SaaS construction collaboration technology market are often a good indication of the overall health of the sector. Having seen major vendor Conject UK report 2013 turnover up 16% earlier this month, Styles & Wood’s specialist information management subsidiary iSite has also reported revenues growing.
In the first six months of 2014, according to an interim statement reported on the London Stock Exchange, it generated revenues of £0.843m, up 33% on £0.632m for the same period in 2013. Margins were slightly under pressure: iSite generated £21k in profit in the same period, as against £41k last year. The report noted that iSite’s Building Intelligence Hub was now live for the largest banking group in South Africa.
As the business usually has a better second half, on this performance, it should finish comfortably ahead of last year’s closing revenue figure of £1.711m (profit: £279k), itself a historic high for the Nottingham-based company.