AN increase in demand for home cinemas has helped a Leeds company celebrate its tenth anniversary by announcing an increase in turnover to more than £2m.
The £2.1m figure for Finite Solutions marks a 15 per cent increase on last year, and the company is predicting a huge rise of 50 per cent during the next 12 months.
The increased demand means Finite is now actively recruiting new consultants.
Simon Mathieson, director at Finite Solutions, said: “This significant boost is primarily due to an increase in demand for home cinemas but also recognises the fact that homeowners are investing in future proofing their properties to increase value.
“We are seeing major contracts to install security, audio visual, home cinema and lighting and in many cases to deliver all of these elements for whole house integration.”
So far this year, Finite has secured a £600,000 installation in Leicester, a £400,000 installation in Knaresborough, a £350,000 installation in York, and two installations of £225,000, in Manchester and Leeds.
The London market is also proving particularly buoyant for Finite Solutions, which operates an office in Fulham where it has received major commissions from a number of high profile celebrities and business leaders.
Business from its third office in Chester is also contributing to healthy trading.
Mr Mathieson said: “We operate in a very niche market which has certainly been impacted by poor economic conditions.
“The fact that we have maintained steady year on year growth is testament to our ability to deliver whole-house solutions with added value.
“It makes more sense to utilise our expertise in areas such as room design, whole house cabling, security and energy efficiency which ultimately saves the client money in the long run.”
The UK residential custom home installation sector is now estimated to be worth around £1.07bn according to the Custom Electronic Design and Installation Association.
Audio visual projects still account for nearly 50 per cent of all installations in the UK with home cinemas/media rooms taking a 21 per cent slice and lighting control design the second most popular at 12 per cent.
Finite Solutions was first established by three former Leeds University students. The company turned over £70,000 in its first year but went on to double its turnover year on year for the first five years with no outside investment.
It now operates from offices in Yorkshire, Cheshire and London but competes on an international scale as one of the UK’s largest and most successful custom installation companies. It is the only independent business of its kind to achieve 13 industry awards for its work, and earlier this year relaunched its £1m show house in Yeadon, Leeds.
It is currently the UK’s most technologically advanced show home, which allows property developers, architects, designers – and their clients – to road test digital systems and play with high-tech kit prior to specification.
Later this year, the business will launch a separate lighting retail and design business following unprecedented demand for energy efficient, architectural lighting solutions for residential and commercial clients.