Irish owned IT procurement and IT services company, Arkphire, has reported an operating profit of €6.7 million on sales amounting to €126 million for the 12 month period ended 30 June 2019. These results beat initial performance expectations for the year which saw turnover climb 40% compared to the previous year with profits growing 45% from €4,602,144 to €6,718,614 in 2019.
Commenting on the performance for the year, Paschal Naylor, CEO at Arkphire said: “We are thrilled with the continued growth trajectory that Arkphire is experiencing in terms of financials, new customer acquisitions, our new branding, business transformation and leadership development. Of particular note is the growth in turnover that we set for the business five years ago which now sees Arkphire move past the €100 million turnover milestone for the first time in the company’s 40-year history and the rebranding of our business to support our global expansion plans.”
Over the past five years, Arkphire has grown turnover from €20m to over €126m across its principal activities covering IT procurement, cloud computing, network services, data centre and managed services. The company is now positioning itself for further international expansion as it seeks to follow and support its multinational customers as they expand into other international markets.
Last month, Arkphire announced its acquisition of Trilogy Technologies, one of Ireland’s leading independent ICT Managed Services providers. Due to the timing of the Trilogy acquisition, earnings for the newly acquired business are not included in Arkphire’s consolidated financial statements for the period ended 30 June 2019.
In 2019, the company also announced the opening of a new international office in Singapore and the appointment of its first Head of Asia Pacific. The move is part of Arkphire’s strategic approach to build out its Asia Pacific supply chain and logistics model in order to support existing clients and onboard new businesses looking for an IT procurement partner to support their expansion plans.
Arkphire’s customers cover large multinationals and leading Irish organisations across a wide range of industries including technology, social media, finance, legal, pharma, healthcare and utilities.
Following its acquisition of Trilogy Technologies, the newly enlarged Arkphire Group now employs over 200 people and is headquartered in Sandyford, Dublin.