PXtech boosted by Subway expansion
Derby-based PXtech is set for significant growth this year as Subway, one of its customers, embarks on a 600-store UK expansion over the next three years.
Richard Dorf, managing director of the software services company, told Insider he expects turnover to be up by at least 20 per cent for 2012.
The business, which is based at Pride Park in the city, produces IT services, including web-based business intelligence software, as well as EPoS and CCTV equipment for the retail, hospitality and education sectors.
"We are the recommended provider for EPoS and surveillance throughout Subway in Europe so the new stores are good news and more shops means more people buying from us," Dorf said. "We would hope for similar growth plans for Subway across Europe, too."
PXtech has worked with fast food retailer for about the past seven years and has been awarded a global partnership agreement for its software to be used in 35,000 stores worldwide.
So far the business' PXportal business intelligence system, which provides Subway franchisees with online access to real-time data from their point-of-sale systems across multiple stores, is used in 18,600 stores.
Last year, PXtech also announced a new partnership with American burger chain MOOYAH.
"More than 50 per cent of our business is outside of the UK and we're doing more and more business in North America now as well. A big part of our exports is our business intelligence platform worldwide," Dorf added.
PXtech has had an eight-fold increase in export turnover in the past five years and a significant increase in profitability in the past year, he said.
Overall the company is back on track after a couple of difficult years as the downturn hit.
"Since last year, it is going very well after a couple of lean years in 2009 and 2010 as we did the opposite of what a lot of other businesses did and invested during the recession.
"In 2011, we started to see it paying dividends, particularly with our business intelligence platform and without a doubt with the Subway deal.
"This year is looking significantly stronger than last year. Turnover is expected to be about 20 per cent higher this year, but I'm naturally conservative about that."
Turnover for the year ended 31 August 2011 reached £1.8m, Dorf added.
"Subway is great news for us and despite the hard times we are seeing business booming and export is a major way of doing it, as well as our UK customers. Export is also good for the Midlands generally," he said.
