UKFast has announced a significant increase in its half-year revenues, reflecting a robust performance in the technological sector. This growth is attributed to strategic investments and high client retention.
In the first half of 2017, UKFast experienced an 18% rise in revenues, reaching £22.9 million. The company’s growth strategy, focusing on team expansion and infrastructure investment, underpins its remarkable financial performance.
Strategic Growth and Revenue Boost
UKFast’s impressive 18% revenue increase in the first half of 2017 is a testament to its strategic initiatives and robust business model. This surge, amounting to £22.9 million, highlights the firm’s capacity to attract and retain clients effectively. Lawrence Jones MBE, CEO and founder, attributes this success to a dedicated team and continuous innovation.
The company has seen a balanced revenue growth with 48% attributed to existing customer demand and 52% resulting from new client acquisitions. This equilibrium demonstrates UKFast’s ability to maintain strong customer relationships while expanding its customer base.
Investments in Workforce and Infrastructure
A key factor in UKFast’s success has been its significant investment in human resources and infrastructure. The firm increased its employee numbers by 26% through an extensive recruitment drive in 2016. As a result, the company now employs over 400 people, contributing to its enhanced service delivery and operational capacity.
In addition to staffing, UKFast committed £4.1 million to infrastructure in the first half of 2017, following a £7.6 million investment the previous year. Such investments have fortified the company’s technological framework, enabling it to offer advanced solutions to its clients.
Divisional Growth and Leadership
Lawrence Jones’s leadership has been pivotal in navigating UKFast’s dynamic growth trajectory.
Last year, the company restructured into two distinct divisions, spearheaded by Jonathan Bowers and Gail Jones. This structural shift aims to streamline operations and support further expansion.
The Enterprise division, led by Bowers, focuses on large-scale business solutions, while Gail Jones directs growth as managing director, ensuring the firm remains agile and competitive.
This dual approach allows UKFast to cater to diverse market segments while maintaining a strong emphasis on client satisfaction and service excellence.
Customer-Centric Approach and Future Outlook
UKFast’s mantra has always been to place the customer at the heart of its operations. The symbiotic relationship between cutting-edge technology and exceptional customer service is central to the company’s ethos.
This customer-centric philosophy has not only driven revenue growth but has also established UKFast as a leader in the tech industry. Moving forward, the company plans to expand its headquarters, doubling its current size by occupying a new 40,000 sq ft building, signalling its readiness for future scaling.
This expansion reflects UKFast’s ongoing commitment to innovation and growth, positioning it well to capitalise on forthcoming opportunities in the tech sector.
Financial Performance and Market Position
For the year, UKFast is projected to achieve a turnover of £46 million and an EBITDA of £21 million, marking a substantial increase from the previous years.
This financial performance highlights the company’s robust market position and its potential for sustained growth.
The increase in turnover and EBITDA positions UKFast as a formidable player in the technology market, with stable financial health and growth potential.
Expansion and Infrastructure Developments
UKFast’s acquisition of an adjacent building in October 2016 forms a part of its broader expansion strategy.
Doubling the size of its headquarters is a strategic move aimed at supporting its growing workforce and enhancing its operational capabilities.
This infrastructure development underlines the company’s commitment to scaling its operations and improving service delivery.
By investing in state-of-the-art facilities, UKFast aims to provide an innovative environment conducive to technological advancements and collaboration.
Leadership and Vision for the Future
Under Lawrence Jones’s visionary leadership, UKFast continues to push boundaries and set benchmarks in the tech industry.
His emphasis on quality and innovation is evident in the company’s strategic investments and dynamic growth initiatives.
UKFast’s stellar half-year financial results underscore its successful strategic direction and investment in innovation. With a strong focus on customer service and cutting-edge technology, the company is well-positioned for continued growth.