Wednesday, 16 May 2012
Managed Print Services Boom as M2 Hits Record Revenues
M2, Europe’s leading managed print IT services provider today announced record business growth. The Company, which is backed by private equity group ECI Partners, saw turnover grow six per cent to £31.7m in the year to March 31; its best ever turnover driven by a record number of devices managed by M2.
Following the highest ever level of annual investment the business also saw profits grow strongly above their previous all time high of £2.4m achieved last year.
John Taylor, CEO of M2 said, “We continue to grow the business organically through customer loyalty, innovation and great team work. We have invested heavily in both new people and technology to ensure we are well placed to continue expansion in the high growth sector of MPS. It is a market with expected growth of at least 20 per cent over the next three years.”
M2’s profit mix is evolving with a greater percentage coming from its managed service business. The Company saw a record 2011 with growth in both mid and large corporate sectors exceeding 30 per cent, and its Southern region now delivering growth of in excess of 40 per cent.
The results include only part year revenue from two major eight and 10-year contract wins from FTSE100 organisations worth in excess of £40m, including a contract extension valued at over £8.5 million with a FTSE 250 financial services company. These will continue to bring financial growth benefit over the coming fiscal years.
M2, now in its 20th year of trading, started in the North West of England and is now is a truly national business with over 80 per cent of the business now being derived outside of the North West.
Taylor went on to say: “We have experienced tremendous progress over the last year and we anticipate the trajectory will continue. We have just launched two new services; printer asset management (PAM) and M2 intelligence, a proactive helpdesk software for IT departments. These are examples of the innovations coming through that will support the future growth. They compliment our existing MPS service but are standalone services for customers who are maybe not at the MPS engagement stage. “
M2 expects further growth throughout 2012 and will build its business along the M1 corridor between Leeds and Milton Keynes as well as deepening its presence in the Midlands.
The Company attributes its huge traction in the market to its independent approach. Able to offer customers an independent print consultancy that not only reduces costs, but provides great value to the business. M2 was recognsied recently by Quocrica in its global report as the leading independent MPS provider in Europe.
Taylor concluded, “Analyst groups report that our target market of managed print and IT services looks set to continue to grow over the medium term, and we expect to exploit the opportunity. We are saving customers money at a time when all businesses are looking to save and we are increasing service experience for those coming to us at the same. Our proposition and delivery is being well received despite the economic climate.”
To download the global report from Quocirca “Vendor Landscape: Managed Print Services” visit www.m2.uk.com or call 0845 263 7262.
M2 is the Europe’s leading Independent managed print IT services company. Offering a proactively managed ranged of office print strategies, infrastructures and document processes, M2 helps organisations reduce office print costs, waste and risk. Through a consultative audit and assessment process, M2 provides organisations with a customised best practice solution that benefits from the company’s vendor agnostic approach. The company’s professional account management teams helps secure sustained benefits and provides a continuous improvement programme.
M2 provides all its own expert resources including engineering break-fix services to IT consultancy and support services. M2 provides a national UK service and specialises in the mid to large corporate market. Customers include Atkins, LSBU, Kings, Manchester Airport, Moorcrofts, Westwood College and Shoosmiths. For more information visit www.m2.uk.com.