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SCC reports record earnings for sixth consecutive year

14 August 2019

Europe’s largest independent IT Group SCC has announced record earnings for the sixth consecutive year.

Full year results for the financial year ending 31 March 2019, for the SCC EMEA Group, showed revenues reaching a record £2.2bn and EBIT of £28.2m – a 1.7 per cent growth year-on-year.

The group has made significant and transformational investment in its own IT systems over the past 12 months to ensure capability to meet future customer demand.

SCC, based in Tyseley, is part of the Rigby Group which is based in Stratford-upon-Avon.

FY19 highlights and outlook:

  • £2.2bn turnover, up 18 per cent across EMEA.
  • EBIT up £28.2m up 1.7 per cent.
  • Operating profit of £18.7m for the UK business (before interest and tax), up 16.9 per cent.
  • Acquisitions of AVS (an AV Specialist) and Hobs Onsite (a Managed Print Specialist)

The group’s record level of turnover reflects strong performance in the product divisions in both France and in the UK, with growth of 20 per cent and 23 per cent respectively. In all territories, services turnover also grew during the year to £337m, a growth of four per cent.

The group's French division made at €1.5bn, represented  six per cent of group turnover with growth of 18 per cent on last year.

The UK division represents 65 per cent of operating profit delivering £18.7m up 16.9 per cent on prior year.

France saw a slight reduction in operating profit of 0.3 per cent driven by margin pressure and a challenging environment in the services operations.

Turnover in Spain has increased 11.4 per cent year-on-year and was predominantly driven by stronger product sales though services also grew by seven per cent.

The group’s Global Delivery Centres in the UK, France, Romania and Vietnam have continued to grow in the year as investment continued in capacity, and capability in support of our clients

The group’s long-term investment programme which has focused on the replacement of the current suite of IT systems is ongoing.

This programme will introduce market-leading applications to support customers and internal operations delivering better service, information and efficiency opportunities.

James Rigby (pictured), SCC chief executive, said: “We are very pleased to achieve another record year of growth and profitability. All companies today are digital and operate in digital environments and this presents great opportunities for us.

“The focus across the group will remain on the successful strategy of growing our services business and developing the right value adding product business for our customers to help them unleash their potential.

“During the year, we have significantly invested across all of our capital programmes. Re-investing profits back into the business is a key part of our strategy to ensure that the group is able to change to meet the needs of our customers and remains relevant for the future.

“Funds are available to support continued investment programmes, organic growth and targeted acquisition opportunities. We have a strong and resilient business based on long-term relationships and a sound strategy which is proving successful in growing profitability.”

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