French IT management specialist Econocom has
reported doubled year-on-year revenue for the first nine months of
The company’s revenues now amount to €345m,
and consolidated revenue stands at €1.1bn compared to €508m for the
same period last year, which Econocom explained was a result of the
merging and integrating with ECS.
The former Société Générale
subsidiary Econocom acquired the ECS group, an IT equipment
leasing specialist, in late October last year.
Jean-Louis Bouchard founded ECS in 1974, sold
his majority stake in 1984, but kept the operation outside France
and renamed it Econocom.
Last year he bought ECS back and merged the
The company predicts it will exceed its annual
target of €1.4bn consolidated revenue and confirmed its forecast of
€56m recurring operating profit.
Econocom’s UK sales director Chris Labrey
said: “We’re a lot more profitable than when we were a small
subsidiary of a bank.”
He added that the UK business is ahead of its
budget and said he expected to fill several new roles in the office
He said the sales operations will grow in line
with the group and that many of the Econocom offices throughout
Europe are recruiting in sales and sales support.
Further revenue growth is expected and
Econocom’s successful integration of ECS has generated “a lever for
improving future results,” according to a company statement.