Reported earnings before interest, tax, depreciation and amortisation (EBITDA) for the group’s trading arm, Amor Business Technology Solutions Ltd, show a total of more than £5.8million, up from £5million the previous year.
Backed by investor partners Clydesdale Bank, Scottish Enterprise and Growth Capital Partners, Amor Group now has its sights set on further acquisitions as it aims to increase organic and acquired revenue to £72million by 2013.
Chief Executive Officer John Innes said: “We are pleased to report another year of excellent trading, with around 10% organic growth in both revenues and earnings.
“2010 proved to be a tough year, where our larger European Systems Integrator competitors saw an average decline of 3% in both their revenues and margins. Public sector ICT expenditure was reduced and the private sector was patchy, perhaps with the exception of the oil and gas sector.
“However, what sets us apart are the business outcomes we design for our customers, which are delivered through a mix of technology products and services executed by energetic and committed people with deep expertise in the energy, transport and public sectors.
“Our three key markets continue to offer huge growth potential and additional acquisitions will be completed in 2011 to further enhance and complement our business offerings.
“We are looking to expand our global reach and will be delivering products that drive international revenues and secure more annuity revenues as customers increasingly buy on consumption models rather than capacity.”
At the end of last year, Amor Group acquired global managed services provider DW Technology Services Ltd, strengthening its offering to the energy sector and paving the way for international growth.
A total of 25 staff moved to Amor Group along with its customers, including global logistics specialists ASCO Group, RBG and Gulf Offshore, while a further 75 staff also joined Amor Group in 2010, taking the total number of employees to 430 in December 2010.
Investments in 2010 included £1million on its Tier 3 aligned data centre, Amor Assure, and additional expenditure on its Amor Assist customer service centre to enhance its industry standard helpdesk.
Further investment with Amor Group’s Bluetooth technology partner, BLIP, afforded exclusive access to its technologies within the worldwide aviation market.
The group’s transport sector showed growth of more than 35% during 2010.
New clients included the Avinor Airports Group in Scandinavia, Dublin Airport, Toronto Airport and Dubai Airport, helping to further penetrate international transport markets.
In the public sector, wins included major development, integration and support contracts within the education sector with Ofqual and the Skills Funding Agency.
This area of the business doubled in size in 2010, despite government spending constraints.
The energy sector delivered another strong performance, strengthening its work with ScottishPower, Cable and Wireless and Total and achieving new contracts with the National Gas Company of Trinidad and Tobago, Northern Gas Networks and Achilles.
With more than 20 years experience in the IT industry, Amor Group is headquartered at India of Inchinnan, Glasgow, with offices in Aberdeen and Edinburgh as well as Coventry and Houston.
