Member Article

Olive Communications outperforms growth targets

Olive Communications continues to outperform its pre-stated growth targets as it affirms its place a leading player in the provision of IT services and unified communications solutions to the enterprise, mid-market and SME businesses in the UK.

The company’s revenue (to the year ending Jan 31st 2014) expanded by £6.6 million to £17.6 million, taking over £3 million through strategic acquisitions, with the remainder driven from organic growth, continuing Olive’s impressive story. The company’s earnings (EBITDA) rose sharply from £1.2m in 2013 to nearly £4.5 million in 2014 before exceptional items.

During the year, Olive has significantly enhanced and innovated its product range with the addition of fixed line and professional services, as well as launching a unified communications joint initiative with Vodafone, with whom Olive is a Platinum Partner. Olive has also invested in the development of new intellectual property for business-critical software.

The acquisition of Wish Holdings PLC and Direct Communications Limited during the trading period significantly increased Olive’s scale in the mid-market and SME sectors, as well as strengthening its management capability and adding fixed line and professional services to its product portfolio.

Since the year end, Olive has continued its expansion, with the acquisition of SafetyBank Limited, a company providing business critical software for the management of health and safety in the construction sector through a Software as a Service (SaaS) model.

Martin Flick, CEO of Olive said: “Our growth is testament to the role Olive is playing in the constantly evolving business communications landscape. As businesses look to transform the way they work, and take advantage of exciting new technologies, our role as both trusted partner and solutions provider is increasingly important.”

Flick continues: “We believe we’re very well placed to help UK firms of all sizes achieve their potential, and to help those companies utilise technology in order to lead the industries in which they compete.”

This was posted in Bdaily's Members' News section by Olive Communications .