Nixu's Turnover increased 59 percents
Nixu, Helsinki 6 June 2006
Nixu's turnover increased by 59% to 6,1 million euros during its latest full fiscal year that ended on March 31 2006. Producing a profit of 580 000 euros, much of the growth experienced during the fiscal stemmed from Nixu's Information Security business. The increase in sales was facilitated by positive market development as well as new market entries, such as information security services aimed at organizations processing a large number of payment card transactions.
During FY 2006 (April 1 2005 – March 31 2006), Nixu added more focus to group's businesses by developing its service offerings further. While all business units produced organic growth, Information Security business was leading the pack. 37% of turnover was generated outside Finland.
Said Timo Kotilainen, CEO of Nixu: I'm very pleased with our growth rate. We carried out about 100 information security and software development projects during our latest fiscal within Finland and the Baltic region, and are now the leading information security consultant and auditor in Finland.
One of the most important wins during FY 2006, Nixu became the first Finnish company to be accredited by Visa and Mastercard as an approved information security auditor.
Demand for Nixu's Software Development services also developed favourably. Helped by larger projects than expected, Software Development sales grew by 54% year-on-year. Nixu aims to develop the business further by building closer development partnerships within the ICT industry.
Positive Outlook for Current Fiscal
During the current fiscal year, the market growth is expected to moderate. Nixu's turnover, however, is expected to increase by 35%. The growth will be attained through further development of Nixu's service offerings, increased volumes within existing accounts, and geographical expansion.
Said Timo Kotilainen: The outlook for network integration projects within the Middle East seems especially good. During the fiscal that ended, our sales in the Middle East increased by 88% and, going forward, we expect that growth to continue.
More information: Nixu Financial statement FY06 (in Finnish only).