Software company set to double in size

Back office software business eg solutions is on course to double in size in the next year.

The company, which has its head office at Dunston, near Stafford, plans to open a new office in London and is looking to recruit up to 50 more staff .

Founder Elizabeth Gooch said that the company which moved into software in 2001 now needed to find the people to deliver its growth strategy.

eg, which is listed on AIM, returned to profit in the six months to the end of July after a difficult 18 months that saw the arrival and departure of chairman and chief executive John O'Connell.

Mrs Gooch, who has stepped back up to be acting chief executive since he left, said that new chairman Duncan McIntyre had come in in March.

Mr Mcintyre, who was previously at Monitise as chairman, has a track record of growing a software business.

In the half year eg has secured nine significant contracts from new and existing customers.

"Normally we would expect three to four and about six in a full year, so to get nine in six months is very pleasing," said Mrs Gooch.

During the entire previous financial year the company generated £4.46 million of revenue and in the first six months of the current year has delivered £3.99m.

Following the launch of its managed cloud/hosting services recurring and repeat revenues have also increased and future sales are now underpinned by a £13m order book due over the next three to four years.

"We have undergone a turnaround in the half year," said Mrs Gooch.

The half year pre-tax profit was £631,000 compared to the £735m loss it racked up in the first half of last year.

There was also a 78% increase in sales.

"Our need now is to hire experts and step up training.

"We need to take on people on our customer operations side, including consultants, trainers and business analysts and in the software operation including developers and professional service staff.

"We employed 56 at the end of July and have increased that by another six since then.

"There are currently eight vacancies to be filled and with us looking at a 50 per cent growth per year we need to take on up to 50 people in the next 12 months," explained Mrs Gooch.

She said that the company was developing a strategic workforce plan.

"We need to bring in and train people and get them productive as quickly as possible.

"Part of this will involve taking apprentices on, We ran a graduate programme last year in which we took on 10, eight of whom are still with us.

"We have got a good training programme for young people and will be looking to take on up to 10 apprentices.

"We are looking for people with a good attitude and a reasonable level of education he we can train with the skills we need," she added.

The back office workforce optimisation software that eg provides enables customers to work out exactly how many people they need, the skills needed and how to manage them on a day-to-day basis to optimise performance.

eg, which became a plc in 2005, has been based at Dunston for seven years. It has steadily investing over the years and is currently investing in sales and distribution.

"We are winning new business both in the UK and internationally from clients particularly global organisation involved in financial services and utilities," explained Mrs Gooch.

Mr McIntyre, said: "The company has made a strong start to the financial year, with significant growth in revenue, profits and cash generation. We are making demonstrable progress in the global workforce optimisation market, with multiple new and existing client wins during the first half.

"This improvement has been achieved with measured enhancements in our operating infrastructure. The Company has a substantial market opportunity and the leading software product. We will continue to invest to ensure we achieve the true growth potential of the company."

*Anyone interested in finding out about job opportunities with eg can visit the company's website www.eguk.co.uk or call office manager Nadine Stonier on 01785 715772.