ECOMETRICA, the satellite data specialist, has hiked profits nearly five-fold amid growing demand for its earth observation and reporting platform, writes Scott Wright.
The Edinburgh-based company, whose software allows governments to map deforestation from space, reported profits of £218,000 in the year to the end of March, up from £45,000. And the business, which harnesses technology developed at the University of Edinburgh, signalled its expectation of further growth. It secured contracts worth nearly £16m before its most recent financial year drew to a close.
Ecometrica is seeing growing demand from companies which can use its systems to assess the environmental impact of their operations. It aims to lift turnover from £3.5m to £10m by 2020.
Adrian Smith, chief financial officer, said: “We’re a growing export story, and as we grow, we’re also becoming more profitable. New clients include Canadian resource businesses, as gold miners, in particular, look to increase their transparency on social and environmental impacts. But it’s predominantly governments who want to safeguard their natural environments. Our ambition is to provide much of the monitoring and assessment technology for the Green Climate Fund that came out of the Paris agreement.”
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