Birmingham-based software firm Delcam unveiled its best-ever results – with record annual sales of £47.1 million and profits of £5.1 million.
The Small Heath firm, which boasts 265 workers at its Birmingham HQ as part of a 597-strong workforce, chalked up a 12 per cent sales upsurge compared to the previous record of £41.9 million in 2011.
The firm said the increase was driven mainly by a 16 per cent growth in the sales of new software licences, reaching £24.5 million during the year, with high demand from new and existing customers.
Delcam’s strong performance won a glowing tribute from chief executive Clive Martell, who said: “We were delighted with the progress we made in 2012.
"It has been a continuing trend in recent years and we have seen growth in sales and an improvement in profitability.
“We are not going to be immune from major world events but we are looking to the future with confidence. 87 per cent of our sales come from overseas and not only are we seeing growth overseas but we also saw our UK sales have one of their best years.”
Delcam said income from software maintenance and support contracts also reached a new record level of £14.1 million over the year. The firm’s highest levels of royalties continue to come from the USA, Germany, Korea, UK and China. The USA was also one of its fastest growing markets, along with Russia and the UK.
Delcam chairman Peter Miles added in a statement: “The results for 2012 are Delcam’s best ever. The sales trend is especially encouraging, with new sales records achieved in each of the last six half year periods.
“Our continued progress in 2012 was very encouraging, especially given the levels of financial uncertainty which affected sentiment for investment in many of our important markets.
“We continue to believe that our broad range of markets leave us well placed to be more successful than the majority of our competitors.” He predicted further progress for Delcam.