Sourcing and optimisation specialists, Trade Extensions, grew revenue by 70% in Q2, 2014 compared with Q2, 2013; year-on-year growth is running at 50% and the company paid shareholders a dividend for the first time.
The growth is consistent with Trade Extensions impressive performance over the last few years which has seen the company double revenue since 2012. Growth this year has been achieved through a combination of winning significant new business and increased activity with existing customers. Companies are recognising the operational benefits they can achieve with sourcing and optimisation projects and this greater understanding of Trade Extensions’ platform is a significant reason for the company’s continued growth.
During Q2, Trade Extensions largest growth has occurred in Europe, specifically the Nordic region, but US performance is strong.
To further support the US market, Trade Extensions recently appointed a new Support Consultant based in California. The new role is Trade Extensions’ second significant appointment of the year in North America after recruiting its first dedicated Sales Director for the region in March. These appointments reflect the increased activity of Trade Extensions’ existing US customers and the importance of the region as a whole.
The financial standing of the company also means it is has been able to pay shareholders a dividend for the first time and the outlook for the rest of the year is positive with growth expected to continue.
Trade Extensions, CEO, Garry Mansell said, “Our performance in the first half of the year shows how the business is developing. We are becoming embedded in companies’ day-to-day operations as they see how our platform helps improve sourcing and the supply chain.”
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About Trade Extensions
Trade Extensions (www.tradeextensions.com) is the leading software provider for the most complex and large scale sourcing and optimisation projects. Its platform, TESS™,is uniquely flexible and, in addition to sourcing projects, can be configured to model and optimise practically any resource allocation problem and has been used for applications as diverse as production planning and supply chain design. Over $1 billion worth of spend is allocated through TESS each week.
The Trade Extensions logo is registered trademark of Trade Extensions TradeExt AB.
TESS™ is a trademark of Trade Extensions TradeExt AB.
