Redstor has announced continued revenue growth after 2016 proved to be a record breaking year for the Reading based company. Up to November 2016, unaudited results show revenue increased by 69% (to £13m from £7.7m in 2015) and EBIDTA climbed to just short of £3m; compared to a 2015 operating profit of £1.2m.
Redstor has also grown its staff by 16% since it first acquired Attix5 in September 2015. Turnover is also ahead of the £12m predicted when the two companies came together.
85% of business is derived from its growing partner community around the world and an impressive 95% of its gross profit is recurring.
Parallel to the growth in staff numbers, Redstor has been hard at work further developing its Backup Pro product over the last 18 months. As part of the expansion, the development team has also moved into new, larger offices in Cape Town, South Africa. Having ownership of the IP enables the company to retain full control over the development of the software, such as building its own Data Management and Security Platform.
Redstor has also introduced a DR offering and is investing in building data archiving capabilities in Q1 2017, in addition to adding features to address visibility and insight into data security for cloud applications.
Managing director Paul Evans comments: “When Redstor acquired Attix5 in September 2015, we had a clear vision in mind to reposition the business in a way that would work for all partners and maximise our growth. We have had some really impressive results this year and are going to continue working with our partners to create the software they need and want to use.”