Cardiff-based independent IT services company Vista Retail Support is forecasting record revenue of more than £15 million this year as it expands into Europe on the back of strong growth in its core retail, leisure and hospitality markets.
The news comes exactly 12 months on from a successful secondary management buyout, with the result representing a 20% increase in Vista’s revenues over the last two years.
The increase is based on new customer wins in Europe, an expanding client base in the cinema and betting sectors and the successful implementation of growth plans by existing clients such as B&M Retail, Pets at Home and Costa Coffee. Vista is now responsible for maintaining the retail technology of almost 50% of the UK’s leading coffee shops.
Increased adoption of new technology by clients is also leading to further growth in demand for Vista’s services, especially in the already-strong fashion retail and hospitality sectors.
These successes, together with excellent customer retention rates, have enabled Vista to take on more field service engineers, warehouse and repair centre staff, taking headcount to 192. Substantial investment in its own operating systems has also boosted Vista’s operational efficiency in installation and servicing, bringing further benefits to customers
“Vista is benefiting from the increased confidence of the retail sector,” said Vince Haffenden, managing director of Vista Retail Support. “We are expanding into Europe which is an exciting development and the increase in demand for our services shows that retail and the hospitality sectors have shaken off the effects of a long recession. People are now going out more often and spending increasing amounts of money, with the result that many operators are investing in new point-of-sale technology, along with tablet devices and in-store Wi-Fi.
“Given our recent results and our record of winning and retaining new business, we can say that the future for Vista Retail Support is looking very bright.”