22 Nov 2022
Commsworld has continued to establish itself as a viable alternative to the larger telecoms providers by reporting a near 60% rise in gross profit over the past 12 months.
The Edinburgh-headquartered company, one of the UK’s leading telecoms service providers, saw gross profit rise to £7.5m for the year ending 2021, up from £4.7m in the previous 12 months.
Commsworld also enjoyed a 20% increase in turnover from £20.6m in 2020 to £24.1m, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were £3.8m, up from £2m.
Chief Executive Steve Langmead hailed the results, saying the company had ridden the upheaval of the COVID-19 pandemic in 2020 and continued to grow both its core enterprise business and expanded its customer service base in 2021.
He paid tribute to the continuing hard work of Commsworld’s staff, whose efforts and expertise helped secure a new £20m+ framework agreement for Digital Connectivity Services with North Lanarkshire Council at the beginning of this year.
The agreement now stands alongside other long-term contracts which include Glasgow City Council, City of Edinburgh Council, Renfrewshire Council and Scottish Borders Council, making Commsworld a significant provider for the public sector in Scotland.
He added: “Our people play a key part in delivering a world-class service to our customers. This contract along with other similar opportunities being pursued can enable significant growth in the years ahead for the group.”
Steve Langmead said the company was also maintaining its reputation in providing excellent service and continuity to its strong and growing private customer base.
This has seen Commsworld provide ultra-fast network connectivity to the £1bn St James Quarter in Edinburgh and teamed up with HALO Kilmarnock in a partnership that sees it provide communication solutions for the HALO Enterprise and Innovation Centre (HEIC).
Commsworld continues to develop partnerships with companies such as Netomnia and Neos Networks to give businesses and organisations in underserved areas significantly enhanced broadband connectivity, bandwidth and resilience.
Steve Langmead added: “This partnership success has been built thanks to our nationwide ultra-fast Optical Core Network, which allows us to deliver transformative connectivity to areas the length and breadth of Britain.
“Through the network, in which we invested up to £10m, we can connect these areas to speeds of up to 10G now, and with scalability of up to 100G. By building capacity for the future we are transforming rural areas, villages, towns and cities right across the country.”