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Belfast firm Liberty IT sales rise to £47m as it gears up for strongest year yet

Liberty IT says it has put right strategies in place to ensure future growth despite Covid


Profit: Liberty IT’s Cathy Donnelly, senior director Talent and William Hamilton, managing director

Profit: Liberty IT’s Cathy Donnelly, senior director Talent and William Hamilton, managing director

Profit: Liberty IT’s Cathy Donnelly, senior director Talent and William Hamilton, managing director

Insurance IT firm Liberty IT saw its turnover grow by over 8% to almost £47m last year and says it is preparing for an even better 2020 in spite of the current pandemic.

Liberty IT, based in Adelaide Street and employing over 500 staff throughout Ireland, said in its financial statement for 2019 that it "continues to show strong operating profits" while investment in new resources and projects will put it in good standing next year. The company, which is headed by William Hamilton in Belfast, saw sales rise from £43.37m in 2018 to £46.96m last year.

Its pre-tax profits sat at £6.4m, down from 2018's £8m.

In the report it said recent investments will allow it to embrace future technological developments within the sector.

Liberty IT develops a wide range of both specialist and enterprise scale software exclusively for its US parent company, Fortune-100's Liberty Mutual Insurance through creativity, problem-solving and a commitment to excellence.

It said since the onset of the Covid-19 pandemic it has "implemented various contingency measures and mitigating actions to address this threat".

It added that is has appointed a specific crisis management team who will "keep the situation under daily review and will take all necessary measures to maintain the viability of the business during and after the situation is resolved".

The 2019 financial report indicates that directors at the company, which has been ranked among the best in the UK for workplace excellence beckoning a string of national awards, anticipate "further growth in sales from continuing operations".

"The company's financial forecasts and projections show that the company continues to be cash generative, taking account of the changes in trading performance as a result of Covid-19, and it will seek to operate within its facilities and meet its obligations as they fall due."

Speaking to the Belfast Telegraph last year, director David Anderson said the "incredible talent" of the IT pool here could be credited for its success.

It is continuing to recruit from a steady stream of talent and currently has software engineer posts and a data scientist role on its vacancy list.

"We ask them all to bring themselves to work and be honest because you need real honesty to connect to people. We have a great team and a diverse workforce with an international presence too and a lot of talent coming out of Queen's University and Ulster University," said Mr Anderson.

Earlier in the pandemic, Economy Minister Diane Dodds wrote in the Belfast Telegraph that the IT sector would be crucial to NI's economic recovery.

She said: "As one of the key areas, the digital sector currently underpins virtually every other sector and has the potential to grow rapidly in coming years, providing more and better paid jobs.

"NI has a strong record in financial technologies, legal tech, cyber security, artificial intelligence and the provision of digital services.

"We need to build on this success.

"I am confident if we build on these excellent foundations NI's digital cluster can be a cornerstone of growth and prosperity which can transform our wealth and wellbeing as we rebuild our economy."

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