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February 13, 1997updated 05 Sep 2016 12:56pm

ITNET RIDES THE BOOM IN UK FACILITIES MANAGEMENT MARKET

By CBR Staff Writer

Ten year-old UK-based facilities management company ITNet Ltd believes it is in a strong position to win more contracts this year as the company and its market continue to grow. The Birmingham-based services company was established in 1987 as part of Cadbury Schweppes Plc, breaking free in a 32.5m pound management buy-out deal in 1995. ITNet has won contracts in both the public and private sectors with a large amount of business based within local government, targeting manufacturing, distribution and financial services. Its financial services side of the business indicated the highest growth sector last year with 94m pounds worth of contracts being signed. ITNet employs 1,200 people at 11 sites around the UK, with employees increasing at a rate of 2,000 to 3,000 a year, and the company has plans to break into the European market in the coming year. ITNet has reported a growth of around 17% a year and reported revenues of 58.6m pounds in 1995, with profits totaling 4.1m pounds. Managing director Bridget Blow believes that the facilities management market will see significant change this year as a large number of contracts come up for renewal and customers put an increasing emphasis on information technology related facilities management services. She said: I think that companies will be looking at more than simply cost, they will want something that will secure a move to propel their business forward. The company publishes a bi-annual report called ITNet Index, on the UK facilities management market, the last edition indicating a 24% increase in new facilities management contracts being signed in 1996. Speaking about the prospects for the facilities management market over the course of the year, Blow said: We see 1997 as a year of continued growth in outsourcing as it becomes more financially stable. Information technology managers will be asking themselves whether they want to continue with an in-house service.

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