TechMarketView: Methods strong growth & profitability

14th November, 2019

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.