e2train announces on target profitable year end results
Learning and Performance software and services supplier e2train has announced substantial year-on-year growth of 26 per cent for the year ending June 2010.
The company has seen a significant increase in demand of 43 per cent for Kallidus 8, its learning and performance management system software. This in turn has driven an increase in its operating profits of 78 per cent which is ahead of its forecast. This is the sixth time in succession that the company has posted an annual operational profit. During the year, e2train won major orders for its learning and performance software and services from new customers such as Cumbria Police, Telecom Plus and ADP Dealer Services amongst others. There were also some major contracts and system renewals with existing users of its systems from authorities and organisations which included the NHS, Transport for London, O2 and Nissan Europe.
Commented Managing Director Rob Caul, "We are delighted with the company performance this year, given the challenging prevailing economic conditions. Unquestionably, our long term strategy of having a broad range of clients in both public and private sectors has paid dividends for us. During the early part of the financial year, we were fortunate enough to win several important government -led contracts. Latterly, as demand from this sector has slowed down we have seen an increase in enquiries from the private sector which has enabled us to maintain a steady flow of income."
e2train is also bullish about its prospects for its new financial year. Continued Caul: "We already have a strong pipeline of prospects which should enable us to expand in line with current growth rates. Further opportunities will be generated by our continued expansion into the performance and talent software and services marketplace which we anticipate will progress through to the end of year and beyond."
In October 2009, the e2train team successfully completed a management buy-out with institutional funding being provided by WestBridge Fund Managers and RBS. In July this year e2train celebrated 10 years in business.