Turnover and profit improvement for Gateshead IT firm

A Gateshead-based IT consultancy is looking ahead to a “bright future” after edging turnover towards the £20m mark in another profitable year.

ITPS provides IT support, data centre and telecoms services for a range of clients, employing more than 120 employees and operating an additional office in London.

Turnover for the year ending 31 May 2018 grew by 15 per cent to £19.2m.

Pre-tax profit was up 8 per cent to £583,917, compared to £538,902 the previous year.

During the year the company attained HCSN status, an NHS accreditation which allowed it to win a multimillion-pound contract with NHS North of England Commissioning Support towards the end of last year.

ITPS finance director, Michael Jopling, said: “We are delighted with the growth in turnover and operating profit and continue to add to our recurring revenue with contract wins in both the public and private sector.

“We continue to invest in our infrastructure, which already exceeds industry standards. We have invested a further £1.6m during the year in order to meet the market shift towards fully managed services offerings.

“Our switch to HSBC and investment in back office systems will help to underpin our ambitious long term growth plans, and we foresee a bright future for the business.”