November 2007
Acturis on target despite soft market
Acturis has doubled its pre-tax profit and seen its user base increase by 60% through organic growth, despite increasing consolidation in the insurance software provider market.
Revenues increased by more than 45% to £6.7m in the financial year, and pre-tax profits increased to £1.4m.
David McDonald, Co-CEO of Acturis, said the growth had been achieved without the company having to resort to acquisition: "These results have been achieved through pure organic growth. We have made no acquisitions in the period, nor have our accounting policies altered in any way. We have increased our user base by more than 60% during the past year, and the number of insurers and products available for e-trading on the Acturis System have increased dramatically."
He added: "We have a contracted pipeline of client implementations keeping us busy through to April 2008, so we already know where most of our 2007/8 growth will come from. We expect to exceed our 2008 targets."
Acturis has also made a new appointment to the board with the promotion of Simon Ronaldson to the position of sales and marketing director.
Insurance Age
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