IT firm ITWorx UK has delivered a record-breaking financial performance in its first year of employee ownership.
The Aberdeen-based company said it had enjoyed its best 12 months since launching 11 years ago.
Its record turnover of £3.06 million equates to a 15% increase in business over the past 12 months.
Investing in the future
One-third of this growth has come from new client wins across multiple sectors, resulting in 12 new contracts delivering in excess of £450,000 over the next three years.
The firm – founded in 2010 – said it continued to invest in new talent during the period.
It pointed to four new appointments including two apprentices, one in the commercial team and one in services, taking the company to 18 employees.
‘Clear strategy and unified culture’
Commercial director and co-founder Jill Ross said: “We are extremely proud of the progress we have made over the past 12 months during what has been a challenging time for businesses across the board.
“Our decision to adopt an employee-owned business model a year ago was to build and strengthen our collaborative approach as a team, with everyone working towards the same end business goals and aspirations to deliver the very best service for our clients.
“Gaining team-wide input and giving them a voice on various aspects of the business and the future direction of it has provided us with a clear strategy and unified culture.”
Also a record year for exam passes
Ms Ross added: “Over the 12 months we have focused heavily on ensuring a seamless transition to this new business model for our valued clients.
“The feedback we have received from them has been overwhelmingly positive.”
ITWorx UK’s other co-founder is technical director Philip Mowatt, who said a “strong focus” on training and development over the past year had resulted in a record 14 exam passes across engineering and services.
Mr Mowatt added: “This has resulted in some internal promotions and an increase in industry accreditations.
“In the year ahead we will continue to invest in our people, and in expanding our technology and services portfolio.
“This will be instrumental in building the future direction of the company – ensuring we remain at the forefront of new technology, while developing the interests and skill sets of all our employees.”
An employee ownership trust holds 100% of the shares in ITWorx UK on behalf of staff working across operations in Aberdeen and Dundee.
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