TechMarketView: Methods strong growth & profitability
TechMarketView analysts, known for robust analysis of suppliers and disruptive market trends in the UK technology market have published their latest view of Methods.
Filed accounts from Methods – which includes Methods Business & Digital Technology (MBDT), Methods Analytics, and CoreAzure - reveal a fantastic growth and profitability story for the company in the year to end April 2019.
For the combined businesses, turnover growth was 31% to £97.5m (up from £74.1m). The bulk of the revenues come from MBDT, which boosted revenues by 29% to £85.3m and reported an operating profit margin (before share-based payments) of 5.8% vs. 4.7% in FY18. The smaller, though higher margin, businesses also performed well. Methods Analytics, which does what it says on the tin, grew revenues by 40% to £5.7m, and operating profits by 73% to £715K. Meanwhile, CoreAzure, which designs, builds and support Microsoft technologies, with a focus on Azure, grew revenues by 70% to £6.5m, and operating profits by 146% to £504.2K.