James Phipps, to step down as company Executive Chairman in April 2020
Today, 10th December 2019, Excalibur Communications, leading South West based communications and IT solutions provider, announces its annual results for 2018 to 2019, reporting turnover growth of 13 per cent up to £9.2 million. This follows another year of strong growth for the company’s IT and fixed line business and an increase in revenues from its mobile business. Profitability (EBITDA) has risen by 24 per cent to £1.6 million*.
The company is also announcing that former company CEO, James Phipps, will leave his role as Executive Chairman from April 2020, after 22 successful years with Excalibur. This move marks the completion of the 2018 Management Buy-Out by the current management team.
Peter Boucher, commenting on today’s announcements, says; “Healthy financials are very important for Excalibur, but there is more to our story than pure profitability. I believe our focus on doing more for customers and investing in new products is driving the business. This year, we concentrated on expanding our product portfolio and exclusively launched CityFibre gigabit internet services in Swindon. We have introduced a Cyber Security Evaluation system and implemented a cloud security platform for mobile customers.
“I would also like to thank James for his great contribution to Excalibur and his wise guidance as Executive Chairman. He was not only instrumental in building a healthy business, but creating a great, open company culture with professionalism, trust and charity at its core. ”
James Phipps, speaking on the move says; “I am very proud of what Excalibur has achieved since I joined the company in 1998, culminating in the MBO, which marks a new era for the company. I have enjoyed my continued involvement as Executive Chairman for two years, supporting the five year growth plan, but, as an entrepreneur at heart, it’s time for new ventures and developing my charitable foundation.”
Excalibur employees have also seen a good year and were awarded their second pay-out of the company £1 million bonus scheme. This recognises their contribution to meeting specific business plan milestones set by the management team. It also confirms that into its second year, the company’s five year growth strategy remains on track. In addition to their positive contribution to the business, Excalibur colleagues achieve beyond work, with an 18 strong team successfully completing the iconic National Three Peaks Challenge within 24 Hours. This, alongside other fundraising initiatives including a company sleep out and bake sale, raised £30,000 for local charities.