Home Manchester Ixis nearly trebles operating profits since management buyout

Ixis nearly trebles operating profits since management buyout

Ixis nearly trebles operating profits since management buyout

Manchester-based digital development, hosting and support consultancy Ixis is celebrating a bumper first full financial year since its management buyout, with revenues increasing by over 50% and a 2.8x increase in operating profits.

For the financial year ending in April 2018, Ixis recorded a turnover of more than £1.7 million, up from £1.1 million in 2016/2017. Operating profits were close to trebling on the previous year, going from £227k to £638k.

This strong financial performance was underpinned by new client wins with the likes of IBM, Uniper Energy, Blue Prism and Association of Corporate Treasures, along with renewals by existing customers such as the British Council and Haringey Council. Ixis is no stranger to rapid organic growth, having been previously listed in the Deloitte Fast 500.

The firm has historically specialised in creating and supporting websites and other online resources using Drupal, enabling its clients to benefit from the open source platform’s exceptionally diverse functionality and worldwide community of developers. Now, it is expanding its development, support and hosting capabilities to include other open source platforms such as WordPress, Magento and Shopware. This will enable Ixis to maintain its focus on flexibility and bespoke, perfect-fit solutions for each client, whilst extending its list of services and broadening its customer base.

Ixis will retain all of its existing Drupal specialists whilst growing its development, technical support and business development functions across other open source platforms. This will allow Ixis to take on clients operating on different systems, and offer them the same technical expertise that has helped Ixis retain existing Drupal clients for over 10 years.

Mike Carter, Managing Director at Ixis said: “I couldn’t be happier to be reporting financial success on this scale. It’s a testament to the hard work, ambition and creativity of the entire Ixis team, and the positive impact of the management buyout that we completed just 18 months ago.

“Ixis has big goals; we’re now seeking to build on the outstanding reputation we have developed in Drupal, and expand out into other platforms. Ultimately, open source technologies allow us to offer the greatest flexibility, creativity and most bespoke service to clients, so that’s absolutely where we want to retain our specialist focus. We expect 2019 to be a very exciting year.”