An Edinburgh-headquartered software specialist that uses satellite data to map the effects of climate change has banked a near-fivefold increase in profits as more and more corporates and governments take up its “groundbreaking” technology.
Ecometrica, which also has offices in the US, Canada and Mexico, posted profits of £218,000 for the year to the end of March, up from £45,000 in the previous 12 months. Turnover rose 25 per cent to just under £3.5 million.
The firm said it had sealed new contracts worth millions of pounds in the final few months of its financial year.
Chief financial officer Adrian Smith said: “We’re a growing export story, and as we grow, we’re also becoming more profitable. Ecometrica is benefiting from more governments and corporates using [our] platform.
“New clients include Canadian resource businesses, as gold miners, in particular, look to increase their transparency on social and environmental impacts. But it’s predominantly governments who want to safeguard their natural environments.”
He said the company should “comfortably” reach its stated goal of £10m turnover by 2020, aided by providing monitoring and assessment technology for the Green Climate Fund.
“In the US, where the government has taken a step back from climate change action, corporates have stepped forward to fill the gap,” he added.