Exterity sees turnover rise in global marketplace

SECTORS: Broad client base helping the firm to withstand impact of coronavirus

Turnover at a Fife audio-visual technology firm with a global reach continues to rise.

Exterity provides software and hardware across a broad range of sectors including government buildings, accommodation providers, the military, sporting venues and cruise operators.

Turnover at the firm rose from £14 million in 2018, to £15.9m for the year ending December 31, 2019, however, pre-tax profits fell from £1.7m, to £1.4m over the period.

Exterity specialises in IPTV – a method which allows TV or video content from any source to be distributed across any connected device across an organisation via its own network.

Founded in 2001, the firm has a global network of offices, including Saudia Arabia, US, France, Australia and South Africa and a headcount of 105 staff.

Earlier this year, Exterity’s growing success was recognised when it was one of just eight firms in Scotland to receive the Queen’s Award for Enterprise: International Trade.

Chief executive Colin Farquhar said the firm had enjoyed “another fantastic year with growth across the board”.

The Dalgety Bay business also invested heavily in bringing a number of new staff on board to manage the firm’s growth – resulting in the dip in pre-tax profits.

He said: “Over the reporting period, the cruise and accommodation sectors in particular, performed well, but we have to acknowledge the reality that there is a global pandemic and we are definitely impacted by that.”

Mr Farquhar added the broad client base of the firm has been a mitigating factor in maintaining the Exterity’s strong position, while different countries had been impacted more than others and at different times. He said: “It’s frustrating after years of very strong growth, but we are in the same place as everyone else and we are also very conscious of the impact the pandemic has had on our staff and their families, although we are very grateful that nobody from the Exterity family has been personally affected.”

Mr Farquhar said the firm was in a position to make strategic decisions and not be driven by day to day financial events.

He said: “We take a long-term approach and we have a good spread of clients in different sectors.

“At the moment, we are making sure we are in the best shape possible for the future and ready to support our customers as we emerge from the pandemic.

“At the year end, we expect to be in a strong position.”

Picture: George Mcluskie. Exterity chief executive Colin Farquhar.