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Data centre (stock image) Data centre builder Winthrop Technologies has reported a pre-tax profit of €118.6m in the year to the end of April. This was up 38pc from the group's previous financial year.
Winthrop is focused on the delivery of data centres in Europe, providing turnkey solutions to clients. Revenue rose by €219m to €1.28bn across the year, driven by the increased number and size of projects in the turnkey data centre sector.
Winthrop also had cash of €140.8m at the end of its financial year, up almost 10pc from the prior year. This was attributed to the ongoing profitability of the group's main business, as well as the cash generative nature of its ongoing operations.
The business operates across eight European market and recently expanded into Finland. It expects further client-led expansion into other European markets in the next 12 to 18 months. In April, private equity giant Blackstone confirmed an agreement to buy a 50.
7pc stake in the Irish data centre developer. The deal was finalised last month. “Our financial results reflect the increasing growth and strength of the European data centre market and Winthrop Technologies’ place at the forefront of the delivery sector.
In the past financial year, we have continued to build and add to our blue-chip customer base,” chief executive Anne Dooley said. “We have a very positive outlook for the coming year and we are set for further significant expansion of our business across Europe as we continue to deliver high quality, turnkey data centres for our clients, on a repeated basis,” she added. Ms Dooley also highlighted “positive dynamics in the sector” as the demand for data, cloud and artificial intelligence services grows.
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