Insurance broker in Melton area named among UK's top 100 for fastest rate of profit growth
An insurance services company is among the UK's top 100 businesses with the fastest growing profits.
Business solutions provider Qdos, based in the Troon Way Business Centre, Humberstone Lane, Thurmaston, has been included in the Sunday Times BDO Profit Track 100 league table.
The company, which employs 71 people, has been ranked 55th in the table that features online retailer The Hut Group, sandwich shop chain Pret A Manger, and gym operator PureGym.
Over the last three years, profits at Qdos have risen by 70 per cent to £7,057,000 last year.
Seb Maley, chief executive of the Qdos Group’s Insurance Division, said: “This is a testament to the team’s hard work and commitment.
“We believe in the value of innovation, and this achievement signals that finding new ways to improve insurance and workplace solutions does pay off.
“Keeping company with such notable UK businesses will spur us on too, as we focus on providing smart, cost-effective compliance services for the rapidly changing world of work.”
The group is seeking further growth with expansion in and outside Europe.
Mr Maley said: “Brexit uncertainty remains but regardless of pending trade agreements and potential challenges, we believe the fundamental change in the European employment market and the rise of independent working will allow new opportunities for our growth.”
“Following a successful few years, overseas expansion is now a focus of our strategic plans, and operating as a debt free business allows us the financial flexibility to enter European markets quickly.”
Mr Maley said the profit growth was largely due to investment in the creation of new solutions and in technology.
He said: “We recognised that to keep pace with the evolving employment landscape, insurance and workplace solutions desperately needed innovating.
“So we invested in researching, developing and building our own solutions, which has contributed to our recent success.
“Our investment and focus on technology have allowed us to maintain a relatively small cost base and headcount whilst driving growth through our online platforms, which we ensured were scalable from the outset.”