Company headed by Mayo man reports turnover up 22% to €90m

Posted in Connect on January 17, 2019.

IRISH owned IT services and networking company, Arkphire, has reported an operating profit of €4.6 million on sales amounting to €90.1 million for the 12-month period ended 30 June 2018. These results represent another strong performance for the business with profits growing from €2,723,265 to €4,602,144 in 2018 and turnover up 22% compared to the previous year.

In November 2018, Arkphire, which is headed by Mayo man Paschal Naylor, acquired CloudStrong, a specialist cloud solution provider that is based in Castlebar.

Commenting on the performance for the year, Jimmy Dalton, CFO at Arkphire, said: “We are very pleased with the company’s improved performance over the past year having expanded our customer base and increasing turnover across each of our principal activities covering IT procurement, network services, data centre and managed services.

Over the past four years, Arkphire has grown turnover from €20m to €90m. This growth trajectory is set to continue as we seek to ambitiously scale the business based on the business plan we have in place for the next five years.”

Arkphire’s customers cover large multinationals, leading Irish organisations and public sector agencies within a wide range of industries including telecommunications, finance, pharma, healthcare and energy.

Arkphire’s expansion has come at a time when increasing numbers of companies see the value in digital transformation and outsourcing a range of IT services from IT procurement through to managed services and networking.

Late last year, Arkphire secured an investment into its business from Bregal Milestone, a private capital firm, managing a new €400m pan-European fund dedicated to investing in high-growth European companies.

Following this investment announcement, Arkphire acquired CloudStrong, a specialist cloud solution provider based in Castlebar. Arkphire has stated its ambition to build out a cloud technology team from its new hub in the west of Ireland.

In 2018, Arkphire was again listed in the top 20 fastest growing tech businesses in Ireland at the Deloitte Technology Fast 50 Awards and was also ranked in the FT1000 list of Europe’s Fastest Growing Companies for 2018.

Arkphire currently employs over 90 people and is headquartered in Sandyford, Dublin, with an international office in London.

The Connaught Telegraph 15th January 2019

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