A Fradley business says it is on track to deliver even more growth.
Integrated System Technologies Limited, which develops smart building technologies design to help organisations reduce their carbon footprint, saw a record year for profit and turnover in the last financial year.
The company says it is now on course to double turnover to £4million by March 2024 thanks to things such as new low voltage lighting products which aim to reduce energy by an extra 10%.
Chief executive Dr Geoff Archenhold said:
“Last year saw a record performance and the first half of this financial year has demonstrated that the team are clearly executing their strategy to sustainably grow across a variety of sectors and geographical markets, and are on track to deliver £4million revenues.
“Despite challenging market conditions – specifically across supply chains – the group has been focused on managing profitable growth, investing in our resilient innovation-led business model and laying the right foundations for further progress in the years to come.”
Dr Geoff Archenhold
The company said it was also investing in research and development in emerging areas such as secure optical communications.
Projects director David Wellard said:
“Several key long term client accounts have signed off various technology solutions which I believe will provide multi-year, multi-million-pound project opportunities to flow through in the second half of this year and beyond.
“Despite the economic head winds, the company is well placed with an exciting product pipeline for 2023 including the launch of additional productsand first generation of high speed optical wireless LiFi solutions.”
David Wellard
