Langley, Berkshire, UK (September 26th 2005): Hitec Laboratories, the specialist Electronic Document & Compliance Management solutions provider, announced today record revenues for the 04/05 financial year. Revenues grew by almost 17% during the year.
Hitec also announced the appointment of Tim Bowen as Non Executive Director. Until recently, Tim fulfilled the joint roles of CFO and COO of IDOX PLC, a publicly quoted Information Management company. “I have known Hitec for many years” he commented, “and have been aware of and enthused by their continually expanding Customer base and multi-product offerings. We are looking forward to a fruitful year ahead”. During his 5 years service with IDOX, revenues grew to £15m through a combined strategy of strong organic growth in niche markets, combined with relevant strategic acquisitions.
Commenting on the results and the appointment, Hitec CEO Jeremy Crame said “Tim brings with him a wealth of experience, and I look to forward to working alongside him. This appointment, coupled with a far stronger performance in 04/05 positions us well for the new financial year, particularly in regulated markets, where our solutions are being very well received”.