This past February Wellington Financial reported on their blog that Vancouver’s Vision Critical – a Wellington Financial Fund III portfolio company – celebrated record profits in 2009. At the time Vision Critical CEO Angus Reid predicted another jump in revenue for 2010.
Looks like Reid was right.
The interactive research and technology firm announced today its operating results for the first half of 2010. Total revenues for the first half of 2010 were up 43% over the first half of 2009 on a constant currency basis. Actual results were slightly lower because of weakness in the US dollar, GBP and Euro.
Vision Critical continues to post impressive growth in revenue and operating profits, significantly outpacing the recent market upturn. Speaking about the company’s growth industry veteran Reid notes, “We’re on track to earn approximately $70 million in revenue in 2010; another major step forward based entirely on organic growth.”
Vision Critical is a private company and therefore doesn’t release details of its profit performance however CFO Gord Baizley reported that the firm continues to experience strong profit growth.
2010 will see the launch of five new Vision Critical products including media testing and idea screening products.