Peterborough’s BGL Group celebrates a record year

Aleksandr meerkat in the spotlight.
Aleksandr meerkat in the spotlight.
  • Revenue growth of 14%
  • Pre-tax profits up by 19%
  • Customers numbers exceed 8.5m
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Peterborough-based insurance giant the BGL Group is celebrating a record financial performance.

Figures just released by the BGL Group, of Bakewell Road, Orton Southgate, show that revenue jumped by 14 per cent to £585 million for the financial year 2016/17 to the end of last June.

Matthew Donaldson, chief executive of the BGL Group.

Matthew Donaldson, chief executive of the BGL Group.

Its profit before tax for the same period soared by 19 per cent to £126 million.

Total customers numbers rose to 8.5 million for the company, which employs 1,800 people in Peterborough.

The impressive performance is likely to bolster the company’s plans to float on the London Stock Exchange, a move that is thought likely to take place before the end of the year.

Chief executive Matthew Donaldson said: “We have delivered a record year in terms of revenue, profit and customers, with progression in all our businesses.

“Across all of our operations we continue to innovate and deliver outstanding digital propositions to our customers, supported by our investment in our new tech and digital hub in London which opened towards the end of the financial year.”

There were strong achievements by BGL’s leading brands.

Comparethemarket.com - famous for its TV adverts featuring meerkats Aleksandr Orlov and Sergie - saw strong growth in revenues, which rose by 13 per cent with customer numbers growing to more than five million.

Its highlights across the year involve movie partnerships that include Star Wars, Frozen, Spiderman and Beauty and the Beast.

comparethemarket.com’s customer numbers reached 5.6 million with 2.7 million downloads of its app.

BGL says that LesFurets.com continued to drive awareness in the French market and saw strong growth in quote volumes resulting in record revenues, 33 per cent ahead of the previous year.

Its Insurance Distribution and Outsourcing division, which includes online life insurer BeagleStreet.com, affinity partnerships business Junction and own brands, Budget and Dial Direct, delivered revenue growth of 12 per cent.

Mr Donaldson added: “Comparethemarket.com remains the first choice for customers in price comparison; LesFurets.com is leading the French comparison market; and the significant potential of our Insurance Distribution and Outsourcing division saw it continue to enhance the Group’s product offering, where we were delighted to add SunLife and Virgin Money to our portfolio.

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