The financial Year 2020/2021 has seen the company grow from a standing start to a turnover £419.9k, which was slightly above projected forecast, given that several opportunities slipped into the following financial year. It has been an exciting year of business development and locking in projects and revenues for 2022 and 2023. The forecasted turnover for the business in 2021/2022 is estimated to be £3m with revenues due in from UK and Non-UK Sales of Infrastructure Monitoring Services.
The industry sector is currently seeing a large interest from investors who now realise that the Infrastructure Monitoring Space is a viable investment opportunity. ISG continue to work with several interested parties in securing the company’s funding requirements to meet the objectives in the business plan, which now will be focused on debt and equity investments to permit our current growth. The company has invested heavily in ICT technology, Installation and Commissioning equipment in the last year and has already secured and collecting revenues more than £1m year to date.
The company secured a bounce back loan to support its growth in early 2021 and whilst there is a loss reported for the company in this set of accounts, the company is a great and strong going concern is on plan to repay the bounce back loan in full in 2022. The Directors expect that the company will return a good profit year ending 2021/2022, thus strengthening the company’s balance sheet position for future growth.