| Welsh ATM operator Scott Tod seeing strong growth |
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Date:2006-03-14
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icWales: Scott Tod, a Wales-based independent ATM operator, is looking to build on its 11 percent share of the UK market after installing more than 2,000 ATMs in the past year.
The company exceeded market expectations in its first full year results since its flotation in November. In the year to June 30, Scott Tods turnover stood at ?.7 million (U.S. $12 million), with a pre-tax profit of ?99,000 (U.S. $720,000).
By Sept. 30, the company had installed 2,065 ATMs through contracts with major pub chains, including JD Wetherspoon and Wolverhampton & Dudley. The company has orders for another 750 ATMs to be installed over the next nine months.
The business has also set up a telesales team to target smaller individual operators who could provide sites for its ATMs.
Scott Tods chief executive, Nicholas Tod, said, "There is a lot of room for growth in the ATMs market -- we are talking about 10,000 machines in two to three years. The convenience store market is virtually taken up, so the main growth will come in the leisure retail market."
Scott Tod is the only independent ATM operator authorized by banks to act as a cash carrier; Tod said he believed the cash-in-transit operation was the key to setting his company apart.
Tod said there is "a land grab going on" in the UK, but "it is important to pick the right sites and we need to look at all sites very carefully."
Although two-thirds of Scott Tods revenues are derived from its ATM operations, the company also manufactures change machines (which was the companys original business) and card-vending machines.
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