Results for the year to the end June 2011 show that, despite the challenging conditions in the commercial property sector, revenues jumped up 25% to just over £20.23m from £16.1m the previous year.
The firm, which operates from five bases across Scotland, said the impressive figures were down to its ability to help businesses better manage their workplaces and property costs and a range of key decisions focused on driving forward growth.
Managing Director Steve Judge said the results will likely turn heads across the commercial property sector and wider business community.
He said: “Most people in business will agree that conditions remain tough and, particularly in our sector, the market has not moved on making it even more challenging to spot and develop opportunities.
“That illustrates the strength of our performance over the past 12 months, driven by the commitment from our excellent staff and the impact of various key management decisions.
“To achieve these figures in a sector that has been among the hardest hit by the recession could only be delivered by ensuring total excellence in client relationships and a superb workforce.
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“We are a business that can help other businesses. We work to understand the challenges and aspirations of each particular business and focus on delivering the right solution that ensures they are perfectly positioned for the future.
“The level of growth confirms the success of the business model we have been developing over the past three years and provides a solid endorsement of the hard work and investment that has been put in by everyone at Space Solutions to ensure it is best positioned to evolve as a success story.
“Our target now is to see turnover reach £50m within the next five years and we have already started the process of reshaping and developing the business to reach that goal.”
Space Solutions is Scotland’s biggest independent expert in helping businesses manage changes within the workplace. It operates UK-wide - from bases in Aberdeen, Edinburgh, Glasgow, Dundee and Livingston - to design, build, fit out, refurbish and relocate modern and productive business environments.
Through workplace analysis and space planning, Space Solutions has been able to help businesses manage their workplaces through the recession, working to reduce costs, consolidate spaces, identify surplus areas or in ensuring expansions or new start ups deliver best returns.
The company experienced a significant upturn in requests from businesses looking for help in re-shaping their property assets, with a large majority of these coming from word of mouth referrals.
The firm also implemented a number of changes and business initiatives in the last 12 months, including a full re-structuring of its central belt operation as its Edinburgh and Glasgow divisions managed significant growth in new business. The Edinburgh office alone recorded a 26.4% surge in revenues in the last results as a result.
Going forward, other developments are either underway or about to be completed to fuel further growth such as a number of key management appointments, an acquisition programme, initially focused in London and the recruitment of Space Solutions’ first non executive chairman, Malcolm McPherson, who has extensive experience in supporting businesses with their ambitious growth plans.
(GK)
