Claims management and loss adjusting business Davies Group has unveiled a pre-tax profit of £2.8m on a turnover of £30m for the 12 months ending 31 March 2010.
Claims management and loss adjusting business Davies Group has unveiled a pre-tax profit of £2.8m on a turnover of £30m for the 12 months ending 31 March 2010.
Both these figures were up on the previous year, when profits after tax and turnover were £1.7m and £26m respectively.
Chief executive Charles Crawford noted the gains were made on the back of a rise in the number of claims handled — up 44% to 120 000 ‚Äî and an increase in headcount, with 175 new jobs created, meaning it now employs just over 600 people.
"This is not 175 people to replace staff who have gone, it is a net gain in headcount. We have two major contact centres in Stoke — where we have taken up another floor — and Ashford — where we have created another unit — both of which helped bolster our numbers," he added.
Among the major contract wins Mr Crawford said contributed to a growth in turnover and claims volumes, were a building validation services partnership with LV and wider involvement on the Zurich and Ecclesiastical loss adjusting panels, announced in November 2007 and September 2009 respectively.
He added: "This result is hugely encouraging and is a real endorsement of our work over the past year to drive the group forward. 2010 will see this work continue in our efforts to be regarded as the total claims solutions provider of choice.
"I have been at Davies for a year and am proud of the remarkable business we run and the talented people within it. The year ahead will see us continue to expand our services, including Davies Response, our disaster recovery and restoration service, along with Davies First, our co-ordinated buildings validation and repair solution.
"We have recently launched conversation management and look forward to speaking to existing and new clients about these exciting services over the coming months."
Mr Crawford concluded by noting that this newest offering was an indication of it devising solutions to meet the demands of clients, and that he believed there were enough significant opportunities in the claims market for it to maintain its growth.
First published in Post Magazine 28th July 2010 |