Callcredit reinforces strength of its business with continued strong growth
Today, 7 May 2013, Callcredit Information Group demonstrated the strength of its business, in what have been continued difficult market conditions, by releasing its annual results for 2012.
Highlights of Callcredit Information Group's financial results issued today:
- Profits from operations increase by 40%
- Revenues increase by 25%
Callcredit Information Group has continued to see excellent growth in 2012, with profits from operations increasing 40% on the previous year to show full year profits of £17.3 million. Despite the turbulent state of the economy throughout 2012, revenues increased by 25% year on year. The Group continued to expand and now has a workforce of close to 900.
The results demonstrate the continued commitment to further invest and grow the business. In order to keep pace with its expansion and growth strategy and to help the business move forward, in September 2012 Callcredit established an operation within Lithuania to help support its existing IT infrastructure. The Lithuanian operation provides additional IT development resource to support Callcredit's continued drive to product innovation.
John McAndrew, CEO of Callcredit Information Group said: "These results demonstrate that Callcredit continues to 'buck the trend' enabling us to grow our business in uncertain trading conditions. The fact that we have achieved this in a year where we renewed a substantial proportion of our IT infrastructure, relocated parts of our business and opened a new IT development operation in Lithuania is nothing less than remarkable.
"In addition, with the help and support of our private equity partners, Vitruvian, we successfully re-financed our business, which in the current economic climate serves as a real testament not only to the strength of our business but also to the aspirations we have for it. The facilities will provide Callcredit with additional supportive funding to enable our strategy of continued growth and development. This will support the needs of our customers, enhance the career prospects of our employees and ensure that Callcredit has the resource to reinforce its reputation as an innovative and progressive player in our industry."
David Nahama, Founding Partner at Vitruvian Partners commented: "Callcredit Information Group's continued momentum to deliver strong performance and growth is again very pleasing and is clear evidence that our strong partnership continues to help deliver innovation and service. With the addition of the significant strategic initiatives put in place during 2012, I am sure that Callcredit will be ideally placed to continue to increase its market share, improve margins and grow in scale in 2013."
John McAndrew concluded: "2013 is set to be another year of change within the marketplace which will provide ever evolving challenges for our business, but challenges which I am confident we are well placed to meet."
Callcredit Information Group's financial results video presented by John McAndrew, CEO