BIW Technologies trading success

Thursday, 12 April 2007

BIW Technologies' turnover up 16% in 2006

Web-based construction collaboration services provider BIW Technologies Ltd grew its turnover by over 16 per cent in the year to 30 September 2006, and has been trading profitably since May 2006.

According to its latest accounts filed at Companies House, BIW turnover in 2006 grew to £4.66m, up from £4m the previous year, while losses were down to £171,000 (from £753,000 in 2005).

According to the directors' report, 77% (£3.60m) of BIW turnover "arose from recurring software subscription fees, with a further 16% (£748k) from consultancy and deployment services and the balance of 7% (£312k) arising from licence fees and ancillary products.

The report continues: "This steady, predictable revenue growth translated into monthly trading profits from May 2006 onwards."

BIW chief executive Colin Smith says this profitable performance has continued into the current financial year: "Over our first quarter - October to December 2006 - BIW turnover was up by 22% on the same quarter in the previous year to £1.4m, generating pre-tax profits of £170,000.

"This is particularly encouraging in a UK market in which some of our competitors have struggled to grow or have resorted to mergers in order to survive."

At 30 September 2006, the value of BIW's order book had risen to £8.43m - this being the sum of agreed future subscription fees (not yet recognised as revenue) that will arise from client projects that are being managed using BIW's system.

During the whole of 2006, BIW registered 12,426 new users, and a further 1149 user organisations. Since 1999, its user community has grown to over 73,000 drawn from 7,600 companies. Its system saw 2.8 million logins during 2006, with more than one million original documents and drawings (excluding copies) being published. BIW customers include Sainsbury's, Crest Nicholson, Marks & Spencer, Bovis Lend Lease, Mace and Gleeds.

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