We have just completed the accounts for 2015 and can conclude that 2015 has been a fantastic year for LogBuy.
First of all, we had 9% growth in the consolidated top-line revenue, which reached £2.9 million. This is LogBuy Group’s largest revenue to date. The biggest growth in % was in the UK where we won a number of new customers, partly from competitors and partly from the untapped market. Also in Denmark, we have experienced good growth in revenue, which primarily came from more active users and a related positive knock-on effect on earnings.
On the bottom line, we reached also the best result ever. Result before tax was £ 0.44 million and after tax £0.34 million. It’s obviously very satisfying and illustrates the healthy foundation that LogBuy is based on. This gives us greater freedom to make further developments of the platform plus adding another AAA-rating to the list.
On other fronts, we have also experienced success. E.g. we have outsourced our IT development to Ciklum in Ukraine. With this change, we have been able to reduce our development costs and simultaneously increase both the quantity and quality of development. Our product has never been better and is among the best in a highly competitive market in the UK.
On the staff side, we have been able to attract and retain a number of qualified employees who all help to contribute to a positive development throughout the company’s functions and setup.
Thanks to customers, partners and employees of LogBuy for a great year and we look forward to continuing this in 2016.