Styles & Wood’s specialist SaaS information management subsidiary iSite has reported revenues growing. in the first half of 2015. According to an interim results announcement, the fit-out contractor’s IT arm generated £900k in revenues in the six months to 30 June 2015, up around 7% from £843k in the same period in 2014. Profit in the first six months of 2015 is given as £82k (up from £21k in 2014).
Since June, the business has announced a three-year deal with UK furniture retailer HSL which plans to open two new stores per month until 2018 to achieve a national network of 120 retail outlets. iSite’s Portal system will support the company’s store acquisition programme and its property portfolio management.
iSite usually reports a better second half-year, though 2014 was an exception (post). If it repeats previous years, on this performance, it should finish ahead of the 2014 full year revenue figure of £1.84m (profit: £192k), the best result in the Nottingham-based business’s history.