We are pleased to announce our half year figures for the firm show that both turnover and profit margins have increased.
At the end of January, revenue was up by 14.1% compared to the same time last year, having grown from £869,000 to £992,000. That compares to a 5% increase in turnover in 2009/10. Profit before tax has also increased substantially.
Growth since August has come as a result of the company winning new business across all the specialist sectors in which it operates. These include corporate, small business and private client insurance. There has also been some organic growth within the existing customer base.
Since the company’s management buy-out in 2007, Russell Scanlan has also moved into niche markets such as micro-breweries, museums, galleries and garden allotments. There continues to be significant growth in these sectors.
Commenting on the results, Managing Director Bryan Banbury said: “It goes without saying that we are extremely pleased and encouraged by these figures, especially as we continue to hear from other insurance brokers that growth is difficult in the current climate.
“Our analysis indicates that we’re writing more new business than previously, and an expansion in our Masterbrew and Allotment schemes is generating greater client numbers in both sectors. Income from the private client division is also up by 5%, with new client wins resulting from personal recommendation.”
“Since our rebrand last summer - which involved the launch of a new website, an increase in e-marketing, PR and social media activity, we have seen a steady increase in business growth. A more focused approach to lead generation has also been an important factor.
“This success would not have been possible without our dedicated staff, many of whom have been with the firm for a number of years. They pride themselves on good quality service, and there’s no doubt that their hard work and expertise has had a positive impact. We also have strong working relationships with our main insurers, and this enables us to deliver cost effective solutions to our clients.”
2012 is a landmark year for Russell Scanlan as it celebrates its 130th anniversary year. The firm has a rich heritage, enviable reputation, and is still fiercely independent with a strong presence in the cities of Nottingham and Leicester.
To mark this milestone, Russell Scanlan will be holding a series of events and activities throughout the year to celebrate with its partners, clients and business associates. Keep an eye on the website - www.russellscanlan.com – to find out more.
To see local press releases of this information visit: http://www.bemmag.co.uk/2012/03/managing-risk-pays-off-for-east-midlands-firm/