CAE flies past £130m revenue barrier

Cisco partner opens up entities in India and the Netherlands

CAE Technology Services saw revenue rocket past the £130m barrier in its last financial year following a management buyout.

Sales for the 12 months ending June 2019 climbed 28 per cent to £132m, while international sales shot up 184 per cent to £13.7m (10.3 per cent of total turnover).

Operating profit was up 69 per cent to £3.9m.

CEO Justin Harling (pictured) said: "We know the business has huge potential and we are delighted that the figures illustrated what can be achieved in both the short and long term for CAE, especially in a year that included our MBO.

"On the back of excellent numbers, investment has continued in the business in all areas, including core competencies of networking, datacentre and security as well as growing recurring revenues and achieving our first revenue from application development.

"We are looking forward to continued growth from a focused number of vendors and strategy built on unrivalled customer intimacy."

Harling (pictured) and COO Richard Behan completed a management buyout of CAE in November 2018, not long after the Cisco partner crossed the £100m revenue threshold.

CAE added that it set up entities in the Netherlands and India last year, adding to its presences in the UK and the US.

Last month the firm restructured its sales organisation to align with its vendors, under the leadership of Gregg Spooner for enterprise and public sector, and Rob Finnerty for commercial.

A new business services department was also launched with Bob Pigott at the helm.

Harling added: "If you are willing to invest and adapt to the changing needs of customers, there has never been a better time to deliver infrastructure services.

"CAE is ready to go with an enhanced top team that can scale the business and take it to the next level."