Telent Technology Services reaches £483.6 million turnover
Turnover has risen at a technology giant Warwick-based Telent which provides services to the defence, rail, traffic and public safety sectors during its latest financial year, new documents have confirmed, though the business slipped to a pre-tax loss.
Telent is a specialist in the design, build, operation and maintenance of the UK’s critical digital infrastructure. In 2022, Telent announced the launch of Cyro Cyber Limited, a new dedicated cyber security services company, experienced record graduate and apprentice intake and appointed a new Chairman.
Newly filed accounts for Telent Technology Services Ltd show turnover reached £483.6 million for the year to 31 March 2022, up from £472.1 million in 2021.
However, the company made pre-tax losses of £1.4 million, compared with profits of £6.2 million in the prior period.
A statement signed off by the board said: “Market and inflationary factors placed considerable pressure on our ability to generate profit from infrastructure services contracts in the year, and we have continued to suffer from delays and associated cost overruns on a challenging contract in the transport sector awarded in 2018.
“Despite these factors, the rest of the business has remained extremely resilient.”
A Telent spokesperson added: “We’re focused on delivering great services to our customers and value to our shareholders, and we see significant opportunities to grow and further develop our business focused on the design, build and support of mission-critical networks and technology.”