FIRSTSOURCE Solutions, one of Northern Ireland’s largest employers, has reported an increase in quarterly revenues of $ 129 million.
The figure is up 6.5% and a 41.6% jump in net profit to $ 7.4 million for the quarter ended June, 2013 compared to the same time last year.
The global Business Process Outsourcer employs 2,365 people across Northern Ireland in four contact centres between Belfast and Londonderry/Derry.
The results follow a successful period for the company, with significant contract wins with financial services companies, partnerships with City of Culture and top accolades including top Employer of Choice at the Business in the Community Awards.
Rajesh Subramaniam, Managing Director & Chief Executive Officer of Firstsource Solutions said: “Our focus continues to be on disciplined growth and consistent margin expansion. The awards won this quarter are a testament of our commitment to Customer Service Excellence and being an Employer of Choice in the delivery markets.”
Firstsource has also strengthened its senior executive team with Stephanie Wilson appointed EVP, European Operations, responsible for client engagement and operations across Europe.
Stephanie joins Firstsource from Teleperformance, where she held the positions of Chief Operating Officer, EMEA and EVP, Strategic Client Management.
Prior to this, Stephanie was Managing Director at TSYS Managed Services, a global payment company.
She has previously also been with Convergys, where she spent 14 years in various roles including VP of Client Services International, VP of Operations EMEA, and General Manager UK and its offshore centres.
Stephanie added: “I’m delighted to join Firstsource. The company has a strong presence in the UK & Ireland.
“Firstsource has a well established reputation for customer excellence and a roadmap of new products to differentiate itself in the marketplace. I look forward to being part of the company’s future.”
Firstsource is one of the leading contact centre providers in the UK, offering a range of customer-facing services for leading brands in the telecom, media, banking & finance and healthcare industries.
Services include customer acquisition, customer care, technical support, transaction processing and collections, web-chat, online forums and social media.
Highlights for the Quarter ended June 30, 2013:
• Revenues of $ 129 million, up 6.5% Y-o-Y compared to $121 million for the quarter ended June 2012 and up 0.9% Q-o-Q compared to $128 million for the quarter ended March 2013.
• Operating EBIT (earnings before interest and tax) of $11.2 million, up 86.5% Y-o-Y compared to $6 million for the quarter ended June 2012 and up 1.8% Q-o-Q compared to $11 million for the quarter ended March 2013.
• PAT (profit after tax) of $7.4 million, up 41.6% Y-o-Y compared to $5.2 million for the quarter ended June 2012 and up 2.1% Q-o-Q compared to $7.2 million for the quarter ended March 2012.
• Cash position is at $25.8 million.
• Employee strength at 31,623 as of June 30, 2013
• As of June 30, 2013, Firstsource derived 46% revenues from the US, 34% from UK and 20% from
Rest of World, including India.
• As of June 30, 2013, Firstsource derived 45% revenues from Telecom & Media, 32% from
Healthcare, 22% from BFSI and 1% from others.
• Key business highlights during the quarter:
• Debt repayment: Firstsource Group USA, wholly owned subsidiary of Firstsource Solutions successfully made its first quarterly repayment of USD 11.25 million on its outstanding debt on June 26, 2013.
• New business/ client wins:
ß Won a customer management and complaints management contract with a leading
UK financial services company.
ß Won a Customer Insight Analytics and Consulting contract with a leading Irish Bank
• Innovative Service Product:
ß Firstsource launched a new webchat product called “FirstChat”: a web-based customer engagement solution to enhance customer engagement strategies for organisations.
• Sanjiv Goenka, Chairman of RP-Sanjiv Goenka Group and of Firstsource Solutions, received the 2013 Indian Business Leader of the Year Award at the Global India Business Conference in Belfast, Northern Ireland.
Awards & Accolades
• Firstsource has been ranked #24 by The International Association of Outsourcing
• Won the “Outsourcing Excellence Award 2013” at the 17th Annual Outsourcing Excellence
• Awarded the Employer of Choice at the annual Business in the Community Northern
• Also in Northern Ireland- The Irish News Workplace and Employment Awards awarded Professionals (IAOP) in the 2013 Global Outsourcing 100® rankings.
Awards held in Texas, US, for the “Best Business Process” category in partnership with UK mobile phone company giffgaff;
Ireland (BITCNI) Awards in Belfast, Northern Ireland.
Firstsource the accolade of Innovative Employer Award 2013.