About us

Verixas has continued to perform well and has again produced record results.
There has been continued progress across the business as our strategy takes effect. We have demonstrated an ability to grow faster than the market, increasing profits and delivering value to shareholders.
We have delivered year on year sales growth with an accompanying high gross margin. The gross margin stability reflects changes across the business with all geographic regions experiencing growth. Cash generation has also been strong and, combined with the ongoing focus on operational excellence, has led to an increase in operating profit for the year at constant exchange rates.

Margin improvement

The Company saw its adjusted profit margin improve during the year, despite continued investments made in new operations. The biggest improvement came from our European businesses, who collectively achieved high margin.

Strengthened client base

During the last 12 months the Company added significant brands to its client portfolio including VX1, VX1i, and VX2. In addition, the Company has expanded its relationships with major technology production facilities. Given the retainer nature of many of the contracts the Company holds with its clients, the Company has good visibility on revenues from its current client base.

Growth strategy

The Company has continued to explore organic growth opportunities and selective acquisitions of specialist agencies and distributors that will either extend the international reach of our existing businesses or provide new markets or market share for the Company. The Company is well placed to make targeted acquisitions of a size that would not lead to a significantly geared balance sheet; an approach that the Board feels is prudent given the current economic climate.

Prospects

The Company has managed its fundamentals well in the last year, showing solid growth and improved profit margins. Unlike most others in the mobile manufacturing, supply and services sector it was also cash-positive, having ended the year with positive balance sheet. Given the current climate, the Company will continue to take a conservative approach to running the business and focus heavily on expanding its global reach to new markets. As things stand the Company is still experiencing good trading conditions but it seems prudent to manage the business in a way that reflects the general uncertainty that surrounds the current economy. The Company has maintained its momentum and the Board remains optimistic about the prospects for the year.

Jessica Kerbage
Public Relations Officer