Esteem records 68% increase in earnings for FY10 to June 11

Esteem Holdings is pleased to report its accounts for June 2010 to June 2011 showing a 68% increase in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to £3.8m following its acquisition of Sirvis IT Holdings in July 2010.

Esteem Holdings, a specialist IT Managed Service provider based in Leeds, is pleased to report its accounts for June 2010 to June 2011 showing a 68% increase in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to £3.8m following its acquisition of Sirvis IT Holdings in July 2010.

The acquisition of Sirvis was a key part of the Group’s strategy to build contracted revenues to provide a sound foundation for the Group’s overall performance, and in particular to counteract the more cyclical nature of the IT infrastructure market place.

Commenting on the results Joe Connolly, CEO, stated, “The current economic climate has made 2011 a tough and challenging year for everyone. We are therefore very pleased with the above performance and are confident that with 50% of our turnover coming from contracted business we can continue to grow and offer our customers a great service.”

Article published: 10/11/2011

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