*UKHotViewsExtra* FSP - Ten years in the making

2022 marks growing digital consultancy and service provider FSP’s (formerly Foundation SP) tenth anniversary. At the beginning of February, FSP moved into brand new offices right next door to Microsoft in Reading’s Thames Valley Park, where we recently caught up with Simon Grosse, FSP’s CEO, and Tim Ebenezer, COO. 

FSP wrapped up its financial year at the end of December ahead of plans, having delivered more than £11.7m in revenue and £3.5m in EBITDA (FY 2020 saw revenue of £8.7m and EBITDA £2.5m). Headcount wise FSP hired 50 people last year, from grads right through to senior hires, and now employs a team of some 120 people. FSP traded with 64 customers for its services last year, with no one client representing more than 20% of revenues, and the top 10 clients representing about 80% of turnover. Some 44% of revenue is committed on an annuity basis, whilst sector-wise the business remains split 50% Private sector, 30% from Central Government and 20% from Defence.

The business model remains focused on two complementary sets of services. Strategy consultancy and business change accounts for around a quarter of the company’s revenue with the remaining three quarters coming from digital technology solutions and delivery, which in turn splits down as follows:- 

1. Business productivity applications - including modern workplace solutions, business process improvement and optimisationon Microsoft platforms accounts for 30%;
2. Cloud applications and cloud engineering - typically on Azure but with growing referenceability on AWS - accounts for another 30%; 
3. Data and AI - built on top of cloud platforms is 10%;
4. A new Cyber practice launched in May helps clients at the most senior level understand and address security risks within their organisation, and already contributes about 5% of revenue having signed up 10 clients from a standing start.

TechMarketView subscribers can read more here in UKHotViewExtra…

Posted by Marc Hardwick at '09:03' - Tagged: digital   cyber