Home Tech Irish tech firm Arkphire reports operating profit of €1m (£0.85m) on €52.6m (£44.77m) turnover

Irish tech firm Arkphire reports operating profit of €1m (£0.85m) on €52.6m (£44.77m) turnover

by Jonathan Adams

IT services and networking firm Arkphire has reported an operating profit of €1m (£0.85m) on sales of €52.6m (£44.77m) for the year ending June 30, 2016.

The performance of the Irish-owned company significantly improved with profits almost doubling from €530,974 (£451,818.14) in 2015 to €1,015,999 (£864,468.64) in 2016.

In accounts recently filed with the Companies Registration Office (CRO), turnover at Arkphire is also up 63pc to €52.6m (£44.76m) from €32.3m (£27.50m).

“I am very pleased to report a record year of performance and development at Arkphire,” CFO Jimmy Dalton said.

“This excellent result was driven primarily by the expansion of Arkphire’s customer base and the strong performance across each of its’ principal activities covering managed services, IT consulting, product procurement and logistics.”

Last year, Arkphire acquired networking solution provider, Bootstrap, that positioned both companies to be able to offer enterprises the full spectrum of IT services.

However, as the Bootstrap acquisition occurred in June 2016, earnings for the newly acquired business are not included in the consolidated financial statements.

According to Jimmy Dalton, Arkphire has ambitious plans to continue building for the future and is forecasting to grow turnover to €70m (£59.59m) in the next financial year with profitability to double.

The firm also intends to create 35 new jobs over the next two years.

Last year, Arkphire was listed among the Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in Ireland

Arkphire’s customers cover large multinationals, leading Irish organisations and public sector agencies within a wide range of industries including telecommunications, finance, pharma, healthcare and energy.

Arkphire currently employs over 75 people and is headquartered in Dublin with an international office in London.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More