Key points 10-11
Tessella delivered £16.9m of revenue, a 7% increase from 2009/10, profit before tax was £317k. Tessella remains 100% self financed with no bank debt nor third party loans.
Trading conditions picked up in mid 2010 and continued to improve throughout the remainder of the year, as commercial clients started to release funding for projects that had previously been on hold during the recession. Slight contraction in the UK Public Sector market was off-set by growth in the commercial sectors.
With the significant growth delivered prior to 2009/10 and a return to growth in 2010/11, together with gradually improving market conditions and various internal initiatives underway the board is hopeful of continued growth in revenues, profits and cash generation in the future.
Receiving the Queen’s Award for Enterprise in the Innovation category with our client the UK National Archives both encapsulates and validates Tessella’s business strategy: strong collaboration with clients to address their critical business goals, the selection of the best scientifically trained minds to work on their projects, and the development of world class intellectual property with significant business opportunities.
The board would like to dedicate the award to all our staff who enable Tessella to deliver innovative and cost-effective solutions to improve the efficiency and effectiveness of our clients’ operations.
