Business

Novosco revenues up 12 per cent to £23m

Novosco founders John Lennon (left) and Patrick McAliskey

MANAGED cloud provider Novosco has reported a 12 percent increase in revenues to £23.3million.

 

The fast-growing business, which continues to recruit for a range of roles at its Belfast-headquarters, saw an increase in EBITDA (earnings before interest, tax, depreciation, and amortisation) of 16 per cent to £2.8m.

 

The company (www.novosco.com), which has offices in Manchester, Dublin and Cork, in addition to its Belfast headquarters, counts some of the UK’s largest NHS trusts amongst its client-base, as well as several of London’s largest housing associations.

 

Its customer-base also includes Premier League football clubs, major police forces, and many of the island of Ireland’s leading businesses.

 

Last year the company invested around £1million to create world-class offices in Belfast including a staff gym, library, coffee dock and virtual reality room. It also acquired leading English IT security specialist NetDef in a seven-figure deal.

 

Founder and managing director Patrick McAliskey said that NetDef was now fully integrated into Novosco providing major opportunities for further growth.

 

"NetDef specialises in cyber security and includes police forces and global hedge funds, as well as Premier League football clubs, among its clients - that gives us greater capability and a greater reach of geographical areas," he said.

 

“This will significantly benefit our clients, including NHS trusts and our corporate clients,” he continued.

 

In terms of outlook, Novosco expects revenues in 2017 to rise at least a further 14 percent to around £27m.

 

Earlier this year, Novosco announced significant new contracts with UK-hotel group Village Hotels, which has 28 hotels and over 4,000 employees. It also recently announced a £10m contract with Notting Hill Housing.

 

Founded by entrepreneurs Patrick McAliskey and John Lennon, Novosco now employs over 160 people. It is multi-award-winning and managing director Patrick McAliskey is one of the nominees for this year’s EY Entrepreneur of the Year.

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