Solnet boosts revenue 15%

Solnet’s revenue for the year to the end of June increased more than 15% to $23 million. The company does not announce after-tax figures but managing director Mark Botherway says profit increased in line with revenue growth.

Features of the year included providing an agile project to an Australian company as well as delivering significant programmes of online work for New Zealand enterprises, he says.

“A high proportion of our business over the year has been secured through rigorous selection processes. While it is extremely satisfying to regularly prevail, the cost of sale can be significant. It is important that we maintain a healthy balance sheet.”

Botherway says Solnet is taking a very cautious stance.

“I see the next 12 months as a consolidation period.”

Staff numbers remain around 150. Botherway says staff retention is at an all-time high.

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