Advisors help IT business make waves in new seas

Leading Welsh accountancy firm ktsowensthomas has helped unlock the growth potential of an IT consultancy helping it to achieve a position in Deloitte’s recent Technology Fast 50 and the Sunday Times Tech Track 100.

Through its provision of IT expertise to FTSE 100 clients in the finance, telecoms and government sectors, Bluefish Communications Ltd has grown incrementally by 984 per cent over the past five years to a profitable £8.2m turnover business with operations in Cardiff, London, Reading, Melbourne, Sydney and Wellington.

Acting for the company from day one of its business, ktsowensthomas has provided a fully outsourced accountancy service to Reading-headquartered Bluefish Communications for the past five years. In addition ktsowensthomas’ director Roy Birtles has acted in an advisory capacity on the board of Bluefish assisting the company grow and develop its international presence.

Working with accountants in Australia and New Zealand, ktsowensthomas has also managed the appointment of a team of UK-based advisors including Cardiff-based law firm MLM Cartwright, bankers RBS and auditors PricewaterhouseCoopers.

Despite the current market position the business has continued to go from strength to strength growing sales by 41 per cent this year and is well on the way to achieving its goal of becoming a £20m-plus business.

Chief operating officer of Bluefish Lyndon Knight says: “No one can ignore the current economic environment but we have always sought to have the best consultants, diversify our client base and expand our global presence and that has been the key to our success.

“From the outset our focus has been on our clients and our people and we have therefore outsourced all non-core activities. We have been very fortunate to have the expertise of ktsowensthomas on our side who have helped tremendously since we started out. We can’t thank them enough for their practical and technical advice that has really helped us grow our business. Roy has been fundamental in helping us step back and see the bigger picture, letting us focus on the business picture rather than the day-to-day details.

“The advice and support of ktsowensthomas has helped us to unlock the growth potential in Bluefish and we aim to continue to grow as all markets create opportunities.”

Roy Birtles, partner at ktsowensthomas, says: “Since starting out in 2004 using £30,000 of their own personal savings, the relentless drive, passion and ambitions of the founding team is extremely admirable.

“Since the outset they have adopted big company processes and sticking to its core strategy of delivering consultancy services has resulted in growth year on year and success in prestigious rankings such as the Sunday Times Tech 100.

“We have been privileged to be a part of their rapid global expansion and we look forward to working alongside them as they grow their international presence further.”

ktsowensthomas is a firm of three-dimensional accountants and tax advisors. With a head office in Cardiff and a regional office in Aberdare, we are well placed to cover the accountancy needs for business and private clients in south and mid Wales. We provide financial and commercial services to owner managed businesses, small businesses, mid to large corporates, public sector, charity, not-for-profit organisations and private clients across south Wales. Our expert Cardiff accountants or regionally based expert advisors would be pleased to review your audit, tax return, business accounts and annual reporting needs.

If you are a small business in Cardiff, Swansea or Newport looking for advice on audit, business consultancy, corporate finance, tax or wealth planning, please get in touch.

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