Strong 2018 Performance Positions SkySparc for Future Growth

SkySparc, an independent solutions provider, has confirmed another successful year of revenue and profit growth in 2018, built on strong demand in its core business areas and continued investment in service quality.

Stockholm, Sweden, May 23, 2019 –(– SkySparc achieved revenues of SEK 106 million in 2018, representing an increase of 27% over the previous year, with pre-tax profits rising by 32% to SEK 23.5 million. More than half of the revenues were recurring, with SkySparc’s three core business lines – Outsourced Support, OmniFi and Patch Upgrade as-a-Service – all experiencing increasing levels of client demand.

Having delivered profitable growth for more than a decade, SkySparc has achieved consistently stronger financial performance over the past five years, reporting 20% annual growth (CAGR).

SkySparc’s robust 2018 financial performance has been attained at a time of evolution in both customer needs and the firm’s service proposition. Key operating highlights include the following:

· Recruitment drive to bolster senior management team, including ex-TradeTech Consulting / Virtusa[1] veterans Joakim Wiener as SkySparc’s CEO and Daniel Alenius as head of the firm’s Outsourced Support service, supported by further top-tier hires across key operational and service functions.

· Record number of new OmniFi licenses issued to users in 2018 across all core SkySparc client groups, and a significant increase in OmniFi R&D program to support extensibility. OmniFi is already used by 1/3rd of all Wallstreet Suite clients.

· 100% increase in number of patch upgrades conducted for clients in 2018, with SkySparc’s new Patch-Upgrade-as-a-Service methodology becoming widely adopted, achieving savings in excess of 30% for service subscribers.

· Successful launch and expansion of new practice providing Murex consulting and Outsourced Support services for Nordic clients under Stellan Råberg, formerly senior client manager for the Nordic region at Murex.

SkySparc CEO Joakim Wiener said: “SkySparc’s success has always been built on close relationships with clients and an unparalleled commitment to service quality from our staff. In 2018, we maintained our focus on these core principles, whilst laying the foundations for further strong growth in the years ahead. I look forward to evolving our service offering and deepening partnership with clients.”

[1] Note To Editors: Stockholm-headquartered TradeTech Consulting was acquired by Virtusa Corporation in 2014

Published at Thu, 23 May 2019 13:40:00 +0000
Source: Strong 2018 Performance Positions SkySparc for Future Growth.