Directors at Tyneside tech firm Aspire Technology Solutions have hailed rising revenues, aided by a 97% increase in sales in the area of cyber security.
Aspire, which was founded 16 years ago by Chris Fraser and Nigel Begg, provides business, communications and cloud services to companies across the 海角视频 and has now published accounts for the year ended February 2023, recounting another year of investment into the business, including the opening of a Leeds office.
The former North East Company of the Year – which moved into its new head office two years ago at Pipewell Studios, the converted former Baja Beach Club nightclub – saw revenues rise 17% to £32.3m, while operating profit fell 45% from £4.87m to £2.64m on the back of the continuing investments.
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In the accounts report, the firm highlighted strong increases in growth areas, in particular cyber security, which showed a 97% increase on the previous year, with managed services and telecommunications reporting 19% and 9% growth respectively.
Directors said: “The company has an extensive portfolio of over 1,700 customers spanning the public sector, transportation, financial services, retail and professional services. The company remains focussed on delivering technology to customers to enable innovation and growth. The company will continue to support business growth in the North East with expansion of ultrafast connectivity, cloud infrastructure and cyber security support.
“Managed cyber security is expected to be a product with significant growth potential as businesses become increasingly reliant upon highly accessible but secure data and systems in an environment where the risk of criminal activity increases.”
During the year the firm's workforce rose from 192 to 238 employees.
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Following publication of the accounts, Rob Fraser, the firm’s chief revenue officer, said: “We remain focused on our mission of putting technology to work to drive customer innovation, efficiency, and growth. In FY23, we invested £4m in cutting-edge technology to meet evolving customer needs, along with £3.8m in our skilled workforce to maintain world-class customer support. To enhance customer service in the Leeds area, we have recently opened a new office there.
“During FY23, we achieved 17% revenue growth, amounting to £32.3m, with recurring revenue showing a strong 19% increase. Looking ahead to FY24, we anticipate continued growth as the benefits of our investments materialise.
“As businesses of all sizes face growing cyber threats, we expect high demand for our managed cyber security services and our in-house SOC (Security Operations Centre). Our robust security solutions, coupled with our commitment to innovation means that we are delivering some of the most advanced security technology for our customers. We are committed to protecting our customers against the constantly evolving threat landscape.”