Fortress International Group Inc., a Columbia-based stock and asset acquisition company, reported an increase of nearly $4 million in gross profits for fiscal 2006.
In 2005, Fortress reported around $8.6 million in gross profit. The firm saw a substantial jump of 39.5 percent this year, up to $12 million. Operating income also increased in 2006, rising up to $3.5 million this year, compared to $2.9 million a year prior.
Reasons for the increases listed by Fortress include a new sales team built in 2006 and the addition of 107 new customers.
“This increase in new business activity also resulted in a substantial reduction in our dependence on government contracts in general as more than 80 percent of the new business proposals we generated focused on the commercial sector,” Fortress CEO Tom Rosato said in a statement.
