Caplin Systems announces that at the end of the first half of its financial year, revenues are 88% up on the same period last year; this follows the previous full-yearâs revenue increase of 53%.
Because revenue from both license sales and professional services projects has increased, Caplin has continued to add resource by hiring experienced personnel; the company is also running a graduate recruitment program for the second successive year. One of the significant new hires is Niels Bjorkoe who joins Caplin as head of engineering reporting to CEO Paul Caplin. Bjorkoe previously built and headed a substantial development team at Vodafone.
The total number of Caplin staff now exceeds 100; the majority of these are based in its City of London HQ but the total includes those in its New York and Hong Kong offices and in the companyâs offshore development centre in India. Continuing headcount growth has prompted Caplin to lease an additional floor in its headquarters building, effectively doubling its floor space less than a year after having moved to its present site.
Caplinâs CFO, David Bygrave, commented, âThe companyâs unprecedented revenue growth, and consequent headcount increase, has meant that we have had to expand our office facilities sooner than we had anticipated. In todayâs economic climate, this is a very nice problem to have.â
Paul Caplin, founder and CEO, added, âCaplinâs core business, providing single-dealer platform frameworks to investment banks, continues to grow despite cautious spending by sell-side firms. Our customers clearly believe that implementing a single-dealer platform can help increase revenues while managing costs â but only if they start with a dedicated software framework.â
The company is also finding substantial interest in its products and services in other areas, as Paul Caplin explains, âItâs exciting to find that both our technology and our expertise are relevant to other market sectors including online retail trading and clearing. The growth in these areas has complemented the buoyancy of our core SDP business, and has enabled us to continue to deliver remarkable growth.â