AM Bid sees public sector growth in record year
AM Bid, the bidding and tendering adviser, has posted a record turnover for the second consecutive year and said it is getting more enquiries from businesses looking to pivot towards public sector contracts.
Revenue for the year to 30 September 2022 came in 10.4% higher at £1,153,165 (2021: £1,044,684).
Net profit before tax fell to £32,933 from £94,633 as the firm invested in marketing Ultimate Tender Coach, the company’s new public sector bid writing training programme.
Encouragingly, despite a challenging business climate at times, the company, which operates in more than 25 sectors, continues to be debt free and has had no bad debt since launching in October 2014.
It has also achieved an independently audited market-leading bid success rate of more than 80%.
AM Bid provides services across the UK and Republic of Ireland and has also serviced clients in Australia. the Falkland Islands, Middle East, Spain and the US.
Clients range from large multinational companies and household names, through national and regional businesses, to SMEs and micro businesses.
The year saw the senior management team restructured following managing director David Gray’s decision to pursue a fresh challenge after six years with AM Bid.
The top team now consists of Andrew Morrison (Founder & Business Development Director); Philip Thomson (Bid Director); Chantelle Seaborn (Bid Development Director); Jeanette Shaw (Senior Bid Manager/Writer); Gavin Cowan (Business Support Manager) and Carrie Campbell (Non-Executive Finance Director).
“2021-22 marked our second year of continued regrowth and building back from the initial impacts of the COVID-19 pandemic,” said Mr Morrison.
“Everyone has worked hard to ensure another set of positive financial results and we can look forward with cautious optimism.
“The need and demand for our services remains strong and we have entered 2022-23 with a healthy pipeline of opportunities including with many regular repeat clients.
“We are starting to see increased traction with Ultimate Tender Coach and expect this training course to deliver an increase to our company revenues.
“As the country prepares for an economic recession, we are experiencing an uptake in enquiries about our services, especially from businesses looking to pivot more towards securing public sector contracts.
“We enter our ninth year of trading with confidence whilst mindful of the need to both continue to grow the business whilst keeping control of our costs.”