Turnover soars at communications firm

Managed IT and telephony firm Excalibur Communications has announced turnover for the past year increased 13 percent to £9.2 million.

The performance follows another year of strong growth for the company’s IT and fixed line business and an increase in revenues from its mobile business. Profitability has risen by 24 percent to £1.6 million.

The company also announced that former company CEO, James Phipps, will leave his role as executive chairman from April 2020, after 22 years with the business.

The move marks the completion of the 2018 management buy-out by the current management team.

CEO Peter Boucher said: ““Healthy financials are very important for Excalibur, but there is more to our story than pure profitability.

“I believe our focus on doing more for customers and investing in new products is driving the business.

“This year, we concentrated on expanding our product portfolio and exclusively launched CityFibre gigabit internet services in Swindon.

“We have introduced a Cyber Security Evaluation system and implemented a cloud security platform for mobile customers.

“I would also like to thank James for his great contribution to Excalibur and his wise guidance as executive chairman.

“He was not only instrumental in building a healthy business, but creating a great, open company culture with professionalism, trust and charity at its core.”

James Phipps said: “I am very proud of what Excalibur has achieved since I joined the company in 1998, culminating in the MBO, which marks a new era for the company.

“I have enjoyed my continued involvement as Executive Chairman for two years, supporting the five year growth plan, but, as an entrepreneur at heart, it’s time for new ventures and developing my charitable foundation.”

Excalibur employees have also seen a good year and were awarded their second pay-out of the company £1 million bonus scheme in recognition of their contribution to meeting specific business plan milestones set by the management team.

It also confirms that into its second year, the company’s five year growth strategy remains on track.