Absoft steps up growth plans with appointment of its first chairman

By GARETH MACKIE
Published on 19/11/2012 00:00

Software consultancy Absoft has bolstered its management team with the appointment of Ernst & Young director Peter Drury as its first chairman.

The Aberdeen-based firm, which specialises in business software services, also said it was on track to grow its headcount from 120 to 175 over the next three years.

Drury, who is director of UK and Ireland tax offshoring and IT operations at Ernst & Young, joined Absoft’s board as a non-executive earlier this year.

He said: “The company is growing rapidly through a combination of technical excellence and business expertise and has built a remarkably strong and committed workforce through its ethical foundation and inclusive culture.”

Absoft, founded in 1991, saw its pre-tax profits soar 168 per cent to £738,177 last year, on revenues 36 per cent higher at £8.35 million, after expanding into Norway with the opening of an office in Stavanger to target the oil and gas sector. The firm also has a strong presence in the higher education and public services sectors.

It made its first acquisition in March with the purchase of Warrington-based Hexarus Consulting for an undisclosed “seven-figure” sum and predicted the deal would see turnover at the enlarged business climb to more than £14m in the current financial year.

Managing director Ian Mechie said the group planned to make further senior appointments to support its growth plans. Earlier this month it recruited eight graduates as trainee consultants.

Mechie added: “Peter brings with him tremendous experience of international business, with extensive expertise in our key markets. He is superbly placed to assist the executive as we develop our strategic vision and decision-making.”