Quantel today announced its provisional results for the 2009/10 financial year, which ended on 30th September. Orders were up 34% compared with 2008/9 (itself a record year for Quantel), and Profit (EBIT) up 125% to £9 million.
"We're delighted with these results," said Ray Cross, Quantel CEO.They have been achieved in the face of challenging market conditions which have seen many other companies in our sector struggling. On the very last day of the financial year, we took £10 million in new orders from existing customers which will feed straight into next year's figures.
"Quantel is a long-standing player in the global media business and our focus is very much on helping to create success and wealth for our customers, which in turn brings success to Quantel," Cross explained. "We have invested heavily in R&D over the last 10 years, and continued to do so right through the economic cycle. Our objective is simple - we provide our customers with creative tools that enable them to tell their stories in more interesting, creative and entertaining ways. That's why we are leaders in HD News and Sports and in the Stereo3D revolution that is currently taking place across post and broadcast.
"The latest fruit of this investment in innovation is QTube. For the first time, truly global workflows are within reach of the media industry. QTube is another great example of Quantel's ingenuity, the next chapter in a story that began 10 years ago with our MBO. The story will continue to unfold with more great ideas to help drive our customers' success," Cross concluded.