Technology boutique Kemp Little’s turnover dipped slightly last year from £7.1m to £6.85m.
The London firm’s profit margin held up at 32 per cent, a result that generated an average profit share of £315,000 for the eight equity partners, up from six the year before.
Kemp Little senior partner Richard Kemp said the firm’s finances were helped by its sharp sector focus and longstanding commitment to tight financial and cash management.
“We don’t do property, finance or private equity and people still have to innovate, despite the recession,” Kemp added. “In fact in tougher times you could say people have to innovate even more.”
Kemp said the firm’s increasingly recognisable name had helped with business development, winning it clients such as Expedia, Thomson Reuters and BMI British Midland.
“As the brand name grows it does get easier to win work,” he said. “We now handle technology work for around a dozen of the FTSE100.”
Kemp Little has made a virtue of tight financial management since it launched. Last year total lockup was just 87 days at year-end, 12 behind its aggressive target of 75 days.
Kemp said the firm recorded time every day and always billed all of the previous month’s work within 15 days of the start of the current month.