API Software defies downturn with 20 per cent rise in revenues
API Software defies downturn with 20 per cent rise in revenues, Feb 5 2009 By Greig Cameron, Business 7
Software company sees revenues hit £3.3 million
API Software is celebrating another year of double-digit gains for 2008. The business development and financial management software specialist said revenues grew 20 per cent to £3.3 million for 2008 and follows on from record gains of 45 per cent last year.
Glasgow based API provides a range of IT services to clients including HBoS, Aggreko, Scotmid and Hymans. Its flagship product, AutoRek, is used in 30 locations in Europe and the company has recently launched new services aimed at the public sector.
Managing director Gordon McHarg said API has picked up significant contracts outside of Scotland, including new business with Lloyds Banking Group, MAN Investments and The Northern Ireland Social Security Agency He said: “I'm pleased with the underlying strength of our business, in particular the relationships with our existing customers, who continue to turn to us as trusted partners and provide us a significant level of ongoing business.”
API has also announced the appointment of accountancy consultant Jim Muir to the board. He has previously held board positions within the UK financial industry and spent ten years as financial sector management consulting director with KPMG He has previously held board positions within the UK financial industry and spent ten years as financial sector management consulting director with KPMG.