AM Bid has reported record turnover in excess of £1m for the second year in a row.
Figures for the year to 30 September saw the bid and tender company post increased revenues of £1.1m, compared to £1.04m during the previous 12 months.
While gross profits grew by 15.4%, net profits were down due to continued investment in marketing Ultimate Tender Coach, the new public sector bid writing training programme.
Net profit before tax was £32,933 - down from £94,633 the previous year.
The company continues to be debt free and has had no bad debt since launching in October 2014.
AM Bid continues to provide services to businesses across the UK and Republic of Ireland and has also serviced clients based in Spain, the Middle East, the Falkland Islands, the US and Australia.
Clients range from large multinational companies, through national and regional businesses, to SMEs and micro businesses.
The year saw a restructure of the senior management team following managing director David Gray’s decision to pursue a fresh challenge after six years with AM Bid.
The senior management team now consists of Andrew Morrison (founder and business development director); Philip Thomson (bid director); Chantelle Seaborn (bid development director); Jeanette Shaw (senior bid manager/writer); Gavin Cowan (business support manager) and Carrie Campbell (non-executive finance director).
“2021-22 marked our second year of continued regrowth and building back from the initial impacts of the pandemic,” said Morrison.
“Everyone has worked hard to ensure another set of positive financial results and we can look forward with cautious optimism.
“The demand for our services remains strong and we have entered 2022-23 with a healthy pipeline of opportunities, including with many regular repeat clients.
“We are starting to see increased traction with Ultimate Tender Coach and expect this training course to deliver an increase to our company revenues.
“As the country prepares for a recession, we are experiencing an uptake in enquiries about our services, especially from businesses looking to pivot more towards securing public sector contracts,“ Morrison continued, adding: “We enter our 9th year of trading with confidence, while mindful of the need to both continue to grow the business whilst keeping control of our costs.”
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