Year-on-year financial highlights
Leading cloud services provider, ANS Group, has announced a transformational year in 2018 with strong performance across all financial metrics, including revenues of £53.1m and a gross profit of £21.5m, with annualised adjusted EBITDA run rate in excess of £12m.
While the deliberate move away from low-margin hardware sales had the expected result of lowering overall revenue by 10%, this strategic decision has allowed the company to refocus on cloud-based solutions with a greater value proposition.
In the year to 31st March 2018, ANS also focused on making investments in restructuring, retraining and re-skilling the team, in order to prepare the business for a strong performance in FY19.
The result of this strategic decision is demonstrated in the quality of earnings improvement with gross margin up by +4.2% on a like-for-like basis (2018: 40.4%; 2017: 36.2%).
Commenting on the results, Paul Shannon, CEO at ANS said: “Moving away from selling hardware was a key milestone in ANS’ journey to becoming a true transformational leader in the UK’s cloud market. This has enabled us to channel all of our focus and expertise into delivering the industry’s most advanced and innovative cloud platforms, helping customers to maximise the potential cloud has to offer.
“As a result of this strategic decision, we have won several key public and private cloud contracts with AO.com, Sorted.com, Royal London, Euro car Parts, the University of Leeds, Northumbria NHS and Salix Homes.
Demand for ANS’ portfolio of Assessment Services has increased as organisations look for partners who can help them understand how best to adopt next generation technology to successfully deliver their business ambitions. Utilising a truly agnostic, modular output has proven to be both strategically sound and highly popular with customers.
As we strive to deliver innovative and pioneering technology to empower our customers, our mission statement continues to ring true: we remain committed to providing our customers with innovative technology, world class expertise and exceptional service, enabling them to drive their business forward. I am extremely confident in the team’s ability to achieve our targets for 2019 and beyond.”