idibu bucks trend to double sales

Fast grow­ing soft­ware provider idibu (www.idibu.com) is fil­ing accounts demon­strat­ing an 80% increase in sales. The accounts also show that the com­pany has moved into profit for the first year since incep­tion in Feb­ru­ary 2007.

The end of year bal­ance sheet has also been con­sid­er­ably strength­ened by the company’s prof­itabil­ity (£28k) and the injec­tion of £36k of addi­tional share cap­i­tal (all sub­scribed by MD Steve Walker). Addi­tional cap­i­tal is avail­able if required to sup­port busi­ness growth and development.

Man­ag­ing Direc­tor Steve Walker com­mented: “We filed our accounts early to illus­trate to the mar­ket how we have devel­oped finan­cially. Tak­ing the busi­ness from a neg­a­tive bal­ance sheet in 2008 to profit in 2009 is a fan­tas­tic achieve­ment in the cur­rent mar­ket. Our per­for­mance in this new finan­cial year already shows con­tin­ued growth which is down to the excel­lent work of the idibu team and our effi­cient busi­ness model.”