WATERSTONS HITS THE £5m MARK
September 2011
Waterstons is celebrating after posting record results and significantly increasing its turnover during the last 12 months.
Waterstons turnover has increased from £3.7m in 2009-2010 to £5.4m 2010-2011. This is the company’s best ever performance and the first time its turnover has exceeded £4m.
The company has added a raft of high profile organisations to its client list in the past year, including Heathrow Airport, retailer JD Sports, Balfour Beatty Rail, University of York and London School of Economics and Political Science (LSE).
Commenting on the company’s growth, Finance and HR Director Michael Stirrup said “We are pleased to have achieved a record set of results and with current assets of over £1m we have the financial foundations for growth in the form of organic investment and potentially acquisitions.”
Waterstons attributes a great deal of its growth to the increasing trend in companies outsourcing the management of their IT services. The company provides a range of managed services offerings, from acting as an escalation route when issues occur to the management of a customer’s entire IT provision.
Raymond Oliver CEO of leading plastic packaging manufacturer, SONE products commented, “We engaged Waterstons after the separation from our Parent company for the hosting of our servers and IT consultancy support. This has been a good decision and trouble-free. We can call on the expertise of the whole Waterstons team as and when we need them. They are experts in their field and we feel very confident trusting them with systems which are critical to the success of our business.”
Waterstons currently employs 63 people around the UK and its workforce is expected to rise again during 2011.
Stirrup said, “We have taken on 14 new recruits in the last year and we are continuing to recruit for both our Durham and London offices at graduate and more experienced levels. It’s an exciting period of growth for Waterstons and we need great people working with us if we are going to maintain this.”
Waterstons plans to achieve similar growth during its new financial year and is already performing ahead of forecast.
Anthony Josephs, Partner at Accountants and Business Advisors RMT, said, “Waterstons’ results clearly demonstrate this company’s ability to predict trends and offer relevant services to the market. We have acted for Waterstons for a number of years now and they continually outperform many of their peers. Their significant growth is a testament to the team and the expertise they are able to demonstrate. Their excellent results mean that Waterstons are well placed for future growth.”