UKTI Business Expansion Award

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UKTI Business Expansion Award

Granted during HRH Prince Charles visit to Lisbon

Brian Luff and Goncalo Quadros accepting the award for Critical

29 Mar 2011

On the occasion of the official visit to Portugal of his Royal Highness the Prince of Wales to mark the centenary of the British Portuguese Chamber of Commerce, UK Trade & Investment (UKTI) honoured Critical Software with the Business Expansion Award 2010.

The UKTI Business Awards recognise companies that have succeeded with major business investments in the United Kingdom. Receiving the award in Lisbon with Dr Quadros was Brian Luff, the Chairman of Critical's UK subsidiary. Mr Luff took the opportunity to thank UKTI for its support and went on to say that he had felt "privileged to be part of the continuing Critical success story that had resulted in this award."

"The expansion of Critical Software's UK successes is amongst the most iconic and significant investments that took place this year in the United Kingdom, and it is in this context that we make this award," said Joanna O'Sullivan, Chargé d'Affaires of the British Embassy in Lisbon.

"To help cope with the challenges facing its economy the United Kingdom actively seeks the contribution of foreign investors, particularly in the information technology sector. We are keenly aware that this year saw the continuation of enormous economic instabilities and risks: because of this, our awards are all the more to be celebrated," said Ms O'Sullivan.

Critical Software's 2010 accounts show that the company recorded operating income above 15 million euros with EBITDA around 1.5 million euros. In spite of the continuing financial and economic crisis, Critical achieved this result while investing no less than half a million euros in expanding its presence in foreign markets. In parallel, the company also invested another million euros in the development of products for the global market.

"These numbers reflect not only the strength of the company but the quality of its strategy and its determination to exploit it in the market", said Dr Gonçalo Quadros, Critical Software's CEO.

"Critical has raised the ante in the southern hemisphere with the launch of a Brazilian subsidiary and the strengthening of its activities in Mozambique. These new developments have not distracted us from further expanding our operations in the United Kingdom. This is a particularly relevant market for us, and we are especially proud to be recognised with this award."