In the year to 30 June 2014, London, UK-based SaaS construction collaboration technology vendor Asite grew its revenues by 17% to £4.715m (2013: £4.011m), generating a profit of £0.635m, up from £0.511m in 2013 (download Asite’s annual report here).
That 17% growth lags a little behind that recently reported for the half-year to December 2014 by global leader Aconex – it reported revenues up 19% last month – but, of course, the two companies’ exposure to different market conditions varies considerably (and they also offer subtly different product portfolios, though Asite’s report, again, gives no clues regarding breakdown of revenues from the company’s collaboration activities and those relating to its procurement/transaction hub).
Last year, Asite tripled its revenues from the Australasian market, but this year they’ve fallen back a little, down from £0.557m to £0.536m. Next week Asite relaunches in the US (post), so it will no doubt be highlighting US revenues up by over a third from £0.150m to £0.218m. The other big bright spot is the UK market where Asite revenues were up 20% year on year. Staff numbers also grew during the year: the average monthly headcount over the year was 139 employees, up from 104 the previous year, once again mainly due to expansion of the India-based technical team.
In the report, Asite CEO Tony Ryan says:
Our efforts to promote Asite’s products in the North American market are starting to bear fruit with significant new customers in the Facilities Management (FM) and collaborative Building Information Modelling (cBIM) sectors. We intend to build on our operations in this region and expect to see substantial grown in the near future.
The release of our new platform Adoddle17 has brought greater functionality and improved user experience. Combined with AppBuilder, which allows our customers to build their own business applications on the Adoddle platform in the cloud, this has enabled Asite to become the technological leader in its sector. Our focus on maintaining this technological edge and prudent cost control have put the business in a prime position for future growth and profitability.