New ownership structure at Videopro as company forecasts profit jump

VIDEOPRO executives Jason Derry and Cameron Douglas have taken a stake in the long-standing Brisbane-based audio-visual business, aiming to drive future growth in cloud and software based technology.

Mr Derry, who is Videopro Business Solutions general manager, and Mr Douglas, who is Videopro Business Solutions sales director, have joined founder and chairman Shane Leaney, chief executive officer Ian Wright and chief financial officer Jason Sing as shareholders. 

The ownership changes come as Videopro prepares for an expected 50 percent jump in profit this financial year, thanks to a renewed focus on services, service levels and operational improvements.

Mr Derry, who has been with Videopro for more than 20 years, said this year would be an exciting one for the company.

“Videopro was set up as a retail business when it opened its doors in 1980 and those foundations are still important to us,” Mr Derry said.

“Today more than 60 percent of our business is B2B (business-to-business) and we see that increasing significantly in the next few years. We see real growth potential with the business and are excited about being part of the next phase.”

Last year Videopro’s revenue hit almost $75 million.

Videopro counts Queensland’s biggest universities, the Department of Justice and Attorney General, the Department of Education and Training and Queensland Health among its client list. The company’s wide scope of work has included some of Queensland’s largest audio-visual projects, including the massive job of fitting out the Supreme and District courts in Brisbane.

“We’ve gone from selling standalone integrated AV systems, to network and cloud hosted software led solutions that can provide all kinds of automation and intelligence in just a few years,” said Mr Douglas, 31, who worked for Videopro for more than a decade before becoming a shareholder.

“It is an exciting time for anyone in our industry who is able to innovate and, more importantly, execute change in their business.”

Mr Douglas said the company and its 130 staff were part of Brisbane’s growing innovation sector.

“We work with a lot of startups here and have a real appetite for change,” Mr Douglas said.

“Right now and into the foreseeable future, that change is rapid. Hardware-based technology is shifting across to cloud and software-based technology. The trick isn’t to survive or adapt to the change but to drive it.”

Videopro is also connected to a national business, named Connected Vision, which delivers technology solutions to multi-national companies around Australia. It is in the process of finalising an international partnership deal that will see the company adopting a worldwide approach.

Videopro is still firmly rooted in the Brisbane suburb of Eagle Farm and the new owners say they plan to keep it that way.

“If anything, we have become more focused on Brisbane in the past 12 months and that is partly because of the new opportunities emerging around innovation here,” Mr Derry said.

“We have a 4000sqm premises, with 2500sqm of warehouse and installation staging space and 1500sqm of office area. It’s an amazing set up and allows us to service our customers in a unique way.”

www.videopro.com.au

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