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Wednesday 10 January 2018

Concentrix reaches the $2 billion mark

ConcentrixSynnex the Fortune 500 BPS player released its Q4 and FY 2017 results yesterday achieving operating profits of $509m (up 34%) on revenues of $17bn (up 21%).

SynnexSynnex is the parent company of call centre operator Concentrix, which forms the smaller of its two Divisions and has a strong position in the UK Customer Services market positioned behind only Capita and Teleperformance for market share. Concentrix has had a very strong 2017 globally with revenues reaching $2.0bn, an increase of over 25% on the previous fiscal year. Operating profit at Concentrix was also significantly up at $114.6m, compared to $63.9m in the previous fiscal year.

We ranked Concentrix as the UK’s 14th largest BPS player back in the summer when we published our BPS Supplier Ranking with estimated revenues just under £170m for the previous year. We estimated then that Concentrix’s revenues in the UK had taken a hit off the back of problems related to its tax credits contract with HMRC and pressures in the wider customer services market.

Quite a lot has changed since then with Concentrix opening a new 130,000 sq. ft. customer services centre in Northern Ireland in October and the company benefiting from the added scale of automotive specialist Minacs acquired for $420m in 2016 (see here). It will be interesting to see to what degree the UK has played a role in Concentrix’s impressive global growth for 2017 when we revisit our BPS Supplier Rankings later this year.

Synnex also took the opportunity yesterday to announce changes to its board and leadership team with CEO Kevin Murai moving upstairs to Chairman to be replaced at the helm by current COO Dennis Polk.

Posted by Marc Hardwick at '10:11' - Tagged: customerservices   customermanagement   concentrix  

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