The business collaboration Group based on the VITAL MGMT 2.0 system reported strong first nine-month results. Executive directors, Paul Starkey & Steve Firszt, reported profits of the group were up 168 percent from one year ago. Citing improvement in margins and labor productivity as the biggest reasons, the Group’s operating profit increased an average of $144K per company. Combined revenue for nine months was $25.6M, which was at the same level in 2014, with two of the companies reporting declines compared to a year ago.
The group included its eight charter BRAVAS members and two associates during the reporting period.
The directors also acknowledged that five new members have joined since the 2015 CEDIA show under the associate program for 2016. They further commented, “We have more interest than ever in our performance system of helping owners operate at peak performance.” VITAL expects the group to reach 20 members by the start of 2016.
“We continue to see improved operating performance and believe the current group has considerable room for improvement while efficiencies and productivity processes are put in place.”
“The collective benefit of knowing where the ceiling is on performance has made all companies better.” The Group shares 22 benchmarking metrics. VITAL’s nine metric graphic dashboard makes performance simple to track and take action.
The group remains optimistic about fourth quarter results which last year totaled half of the Group’s annual profit.