Kick ICT, the fast-growing IT company launched in 2015 by technology entrepreneur Tom O’Hara, has recorded turnover of £7.1m during the last financial year, a 200% increase on 2017 (£2.4m) and nearly 500% higher than 2016 (£1.2m).
In its latest set of accounts to end September 2018, Kick ICT recorded operating profit of £1.1m and increased annualised recurring revenue (contracted clients) by 385% to £7.2m.
In April 2018 Kick ICT acquired Bellshill-based Castle Computer Services (Castle), which followed the acquisition of Talon Business Solutions (2015), Roxxap (2016) and Vozero (2017).
Chief Executive Officer, Tom O’Hara, said the company is on track to deliver turnover of £12.5m in 2019 as the management team build an IT business of scale: “The directors are pleased with the progress that has been made in the last year. We have created a £12m turnover run rate business with a strong suite of products and services, an outstanding team and strong sales growth. We are delighted to have exceeded the £1m EBITDA and £2m cash milestones, providing a sound financial basis on which to further expand the business.
“We remain focused on enhancing our position as a leading provider of IT services and consultancy to the SME market, and continue to pursue an expansion strategy driven by organic growth and acquisition. We have seen considerable growth in England, which is encouraging, and we are seeing strong growth in customer additions and new business enquiries. We remain in the market for acquisitions or mergers and are particularly interested in entrepreneurial firms that share our vision of creating a fast-growing UK IT business that is headquartered in Scotland.”
The company currently employs more than 100 staff, recently recruited its first graduate trainees, and expects to see staff numbers reach 150 next year.
Kick ICT Group is jointly owned by Tom O’Hara, Alan Turnbull and David Chazan, and is headquartered in Finnieston Business Park, Glasgow.