PRESS RELEASE
11 June 2009 Enquiries to: Jean Thompson TTP Group plc +44 (0) 1763 262626 press@ttp.com
TTP announces record year for growth and turnover.
Cambridge, UK – June 11th 2009: TTP Group plc (TTP) today announced details of its results for the financial year to the end of March. The results show that turnover and other income grew to £40m, up from £34m last year with profit before tax growing by 67% over the previous year’s figure.
Commenting on the results, TTP’s CEO Peter Taylor said, “We are pleased to be able to report such strong results in the current economic climate. They are a testament to the commitment and hard work of our staff. The results secure our position as the leading member of the cluster of technology development companies in the Cambridge region and justify our belief in remaining an independent employee controlled company. With the recent acquisition by our employee share ownership plan of the 3i stake in the business, the greatest beneficiary of the increase in profitability is our workforce and we believe that this is a major factor in our success.”
TTP was founded at the end of 1987 during the recessionary crash. Its growth over the years has been financed from retained profits. The company operates an internal share market and has a policy of facilitating the recycling of shares from leavers to the new generation of staff.
Looking to the future, Taylor says, “We are by no means complacent in the current climate as it is without doubt very uncertain. However, we believe that the quality of our staff and their commitment will help us to come through this period and emerge even stronger.” He concludes, “We firmly believe there is a strong demand for the high level of technology innovation skills that we offer to the global market and that the brightest people will continue to want to work in a business where they can influence what products and services are going to be available in the future and share in the rewards.”
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About TTP Group plc
TTP Group plc is Europe’s leading independent technology, product development and incubation company and its primary objective is to create new business based on advances in technology. It is the holding company for The Technology Partnership plc, TTP LabTech Ltd, TTP Venture Managers Ltd, Melbourn Science Park Ltd, and Tonejet Ltd. The company, established in 1987, is headquartered on Melbourn Science Park (near Cambridge, UK) and currently employs over 300 people in its businesses, the majority of whom are scientists and engineers.
For more information visit www.ttpgroup.com.
Editorial enquiries: Jean Thompson TTP Group plc Melbourn Science Park Melbourn Hertfordshire SG8 6EE UK +44 (0) 1763 262626 press@ttp.com
11 June 2009