Member Article

Onyx reports 34% revenue growth in pursuit of five year targets

North East IT support specialist Onyx Group, which includes Newcastle United amongst its clients, has reported a year of record revenue growth and earnings.

Following their £10m acquisition of fellow tech firm Knowledge IT in December of 2014, Onyx have achieved an overall revenue growth of 34%, with turnover now standing at £28.3m.

Neil Stephenson, CEO of Onyx Group, feels the increased reliance businesses now place on IT has provided a platform for companies like Onyx to prosper: “As we live in an ever-increasing technological world, businesses now rely on IT for their everyday operations and the need to maintain the highest levels of uptime has driven organisations to incorporate reliable and flexible technologies, such as cloud computing and data hosting, into their long-term business strategies.”

“Customers look to businesses such as ours to provide them with access to trusted IT professionals with the expertise to deliver an IT roadmap capable of supporting their future growth and development. In the past twelve months we have made significant investments into our infrastructure, including a seven-figure sum into the installation of a new 10Gb national core network and upgrades to our entire Data Centre portfolio to ensure it is now fully PCI DSS compliant.”

The strength of Onyx Group’s business model was further evident in 2015 as the company landed two of their most high profile customer wins to date, with English Premier League side Newcastle United Football Club and Yorkshire-based tolling giants Sanef Group both choosing Onyx to design, build and manage their entire IT infrastructures.

The company executive team was further strengthened in late 2015 with the appointment of former Daisy Group Managing Director Andrew Goldwater to the position of Chief Financial Officer.

The successful growth and development the firm has witnessed throughout 2015 is the latest indication that Onyx are on-track to deliver their ambitious long-term plan to become a national, £100 million revenue IT support and services business within the next five years.

“A technology company like Onyx adds great value to the economy and also benefits the region as a whole because of the high-skilled quality graduate jobs we are providing” said Stephenson, who has seen staff levels rise to over 170 in the last twelve months and has a long-term target of reaching 500 employees by 2020.

“With our new core network, a seven-figure investment into our Cloud Computing platform and the addition of our Newcastle East Data Centre to our current estate, we have all the necessary infrastructure and capacity in place to support that growth.”

Established in 1994, Onyx Group has grown from a regional IT company to a national technology provider with sites in the North East, London, Scotland and Yorkshire regions.

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