Comment9 Mar 2011 07:27
Rudolf van Megen, Chief Executive Officer of SQS commented, "We are delighted with the significant growth experienced during the year, and particularly in the second half, in both revenues and profitability. The investments made in the first half of the year into infrastructure and sales staff and the continuing investment into offshore consultancy staff have been successful. To satisfy market demand we will see further strong staff recruitment in 2011. Our growing offshore and nearshore resources are helping us to become increasingly competitive and ultimately to improve overall margins.
"In addition, our Managed Services business, with which we have gone through a steep learning curve, has continued to grow strongly and contracted over €50 million of revenue during the period, although there are still areas where the performance of the division can be improved. As well as improving revenue visibility, Managed Services is also helping to increase brand awareness of SQS, leading to ever larger contract wins. We are now in an established growth pattern and, while our strategic focus for the coming year will be to continue to improve and innovate our services portfolio, further expansion of Managed Services, hiring onshore and offshore resources and improving the gross profit. Therefore, we are confident of a similar performance in 2011."
So looks good for the future. Been on my watchlist for a while now...