Technology firm UKFast has seen a 40% increase in its eCloud range contribute to a turnover of £40m for 2016.
Another strong year of growth was driven by acceleration in the cloud market and high client retention rates, seeing their EBITDA climb to £17.6m.
The thriving cloud provider doubled turnover in the four years since 2012, achieving a compound annual growth rate (CAGR) of 18.9%. These figures saw UKFast rank in the recent FT 1000 index of Europe’s Fastest Growing Companies.
UKFast CEO Lawrence Jones MBE said: “It's difficult to pin one or two successes down as the defining moments of the past year. Our eCloud range continues to energise the British tech community and UKFast’s growth is, as ever, down to the efforts of the whole business – from the R&D department through to the breakthroughs in the way we support people 24 hours a day.
“Our focus on training and development undoubtedly impacts hugely on the bottom line. My personal highlight is the creation of a sales and leadership academy to train young professionals and move them into exciting roles across the UKFast Group. Getting that process just right has been 17 years in the making and it’s now paying off.”
UKFast's training and development centre represents a £4.5 million investment from Jones and the firm took on 50 apprentices last year.
A growing emphasis on education also sees UKFast team up with leading educational provider The Dean Trust to launch a new high school focusing on digital literacy in Manchester. The new school received approval from the government last month and is set to help tackle the growing skills gap in the region.
Jones continued: “Whilst we are pleased with our growth to date we are confident UKFast is set to accelerate with our expansion into public sector, cybersecurity and R&D. Some of the things we are working on are mind-blowing.”
UKFast is on track for continued success in 2017 as it prepares to expand into a second 40,000 sq. ft. building adjacent to its current campus in Manchester Science Park.
He said: “In October we get the keys to our new building, which is just as well as we’ve tripled our team in the last three years and we’re bursting at the seams.”
Jones has a reputation for building dynamic working environments, with UKFast Campus boasting an auditorium, bar, gym, steam room, 70 ft. slide and an indoor pond. He plans to develop a similar space in the new building for his rapidly expanding business empire.