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Cadweb continues to grow strongly in 2008
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January 2009
Cadweb will record another good set of financial results in 2008 with very strong growth in turnover and profits, all despite the Credit Crunch. Prospects for 2009 and 2010 also look very positive with the order book already exceeding the 2008 figure. While the Credit Crunch is bound to have an effect, the company is looking to take advantage of its strong financial position to capitalise on any opportunities that the downturn may produce.
Turnover in 2008 increased by 21% over the 2007 figure. The forecast for turnover in 2009 and 2010, based only on current orders already received, will rise by a similar or even greater percentage than in 2008. This is without adding any new orders received during 2009 and 2010, prospects for which, while diminished as the Credit Crunch reduces the size of the overall market, are still very promising.
Profitability has also leaped in 2008 by nearly 50% over the 2007 figure. Again the forecast for 2009 and 2010, also based only on the current order volume, will match or may even exceed this percentage growth.
These figures are in marked contrast to the general economic state of the property market in which Cadweb operates. This contrast illustrates the resilience of the company’s business model, corporate strategy and operational performance.
The property sector is suffering from a particularly ferocious downturn brought on by the Banking crisis of 2008. As with all downturns this will produce opportunities as well as challenges. Cadweb enters this period with very conservative finances and enjoying a secure and very healthy financial outlook. The company has no external funding, thus cannot be adversely effected by any changes in the fortunes of external financial investors unlike others in the sector. Therefore, the company is in a very strong position to take advantage of any opportunities that this downturn may present.
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Ends
For further information please contact Francis Newman on 0208 964 5040.
Notes to Editors
- Founded in 1995 Cadweb is the longest and oldest, established project extranet provider in the UK. Cadweb is now recognized as the de facto market leader in it's field with a long and growing list of blue-chip clients. Project Extranets provide an internet based central searchable repository for project information whereby project data can be stored and retrieved by all members of a construction project.
- Cadweb.net provides an internet based, central, highly searchable repository for all project information, whereby project data can be stored and retrieved by all members of a construction project.
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