AMI plans to grow revenue to €10.5m

By Maurice Garvey

RATHCOOLE data company AMI has announced plans to grow its revenues to €10.5 million by 2021, having more than doubled its business in the last two years to €7.6 million.

Despite having offices on both sides of the Irish border, the firm is confident it can continue to grow despite the uncertainty around Brexit.

Philip McMichael Chief Executive Officer AMI compressor

Philip McMichael, Chief Executive Officer, AMI

The company has in fact added 15 new jobs to date this year, and with 75 staff currently on board, it is on track to grow the total workforce to 90 by 2021. 

It is currently hiring for roles in marketing, sales, compliance and business development.

AMI signed 96 new customers in 2019, who will generate €1.05 million revenue in the next year.

Earlier this year, AMI also agreed a three-year outsourcing agreement with charity Camara Education, which saw the company take on an additional 122 new customers. 

According to the company, the introduction of GDPR has helped drive demand for services, particularly with regard to data compliance.

Philip McMichael, CEO of AMI, said: “Businesses are more aware than ever that failing to cleanse their old desktops, laptops and hard drives of all data can lead to a breach of sensitive customer and company information.

We are experiencing a corresponding surge in demand for our secure services, especially given the high rate of return we can offer customers through the resale of their equipment.

Last year we returned €2.5 million to our customers.”

The uncertainty of Brexit has brought about new opportunities for the IT recycling company, who since December 2018, has visited 140 sites across Ireland to help them install new IT systems and manage office moves.

In its first year, the service is up 300 per cent on expected revenue – benefitting from the closure and relocation of businesses affected by Brexit.

Mr McMichael acknowledged “short-term benefits” of Brexit, but said they are also examining new income streams to maintain their market position long-term.

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