BIW TECHNOLOGIES' TURNOVER UP 16 PER CENT IN 2006 - AFTER SIX STRAIGHT YEARS OF GROWTH, BIW "TRADING PROFITABLY"
05 March 2007
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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Notes to editors:
- Project collaboration services from BIW Technologies (www.biwtech.com) were first employed in 1999 on UK construction projects for Sainsbury's. BIW believes it is the European leader in web-based collaboration systems for the construction and property industry, measured by numbers of users, usage and volume of data.
- BIW Information Channel is a sophisticated web-based supply chain integration technology, designed specifically for construction projects or programmes. Each client is provided with a unique, project or programme-specific website created around a knowledge database. With this, data can be made available securely to every team member - from the earliest concepts, through detailed design, buildability studies, pre-fabrication, construction, maintenance, operation and improvement to the eventual demolition or dismantling of the facility.
- BIW customers include United Utilities, Sainsbury's, BAA, housebuilders Crest Nicholson and the Peabody Trust, Marks & Spencer, the Ministry of Defence, the Wellcome Trust, O2, Mace, Bovis Lend Lease, Kajima, Gleeds and developers Land Securities, Ballymore and Garbe.
- BIW's figures are based purely on drawings and other items published once to its system, not on the number of people on a distribution list. Once a drawing, for example, is published it is counted once only. BIW also separates out process-generated items (eg: comments, requests for information, instructions, transmittals, etc) - up to 31 December 2006, over six million of these had been generated.
- BIW and BIW Information Channel are registered trademarks or trademarks of BIW Technologies Ltd.
More information from:
- Paul Wilkinson, BIW head of corporate communications - 01483 712620 or mobile 07788 445920