Go BackBest year ever for beCogent as it Trebles Profits in 2007
Leading UK contact centre operator, beCogent, has announced it will consider 'value-added acquisitions' as it posts a threefold increase in profit to almost £3m for the 12 months to December 2007.
Building on a £1m return in 2006, beCogent posted an underlying trading profit of £2.942m for its 2007 activities. Revenue in 2007 grew by 43% from £25.7m to £36.9m - almost 100% up on the position in 2005.
beCogent executive chairman, Dermot Jenkinson, said: "This has been our best year ever. We have doubled in size in the last two years and the profits speak for themselves. We are now in a strong position to look at our prospects for growth which, up until now, have been organic. We will seriously consider acquisitions that add value to the core proposition and complement existing activity.
"We have further improved flexibility and efficiency during 2007 in order to support the growth of our existing clients, whilst the addition of three blue chip retailers was positive recognition of our efforts to further develop our new business during the year. I am satisfied that we now have a good spread of activity, with no one client accounting for more than 25% of our revenue.
"Although general economic conditions are uncertain, we ended the year with a record quarter, with trading profits for the final three months of 2007 exceeding those made in the full 12 months to December 2006. The current year has started strongly for beCogent and I anticipate that the company will continue to benefit from a buoyant UK contact centre environment in 2008."
The company has continued to invest significantly in its employees during the past year with the roll out of the beCogent Fast Track and Academy programmes and the implementation of a full grading structure. This has created opportunities for horizontal as well as vertical progression.
Jenkinson continued: "During the year, our Investor in People accreditation was reviewed and feedback from the lead assessor after eight days and more than 125 random interviews across the business was that beCogent was 'probably the best company' they had ever assessed."
Leading UK retailers John Lewis Direct, House of Fraser and Fortnum & Mason were added to beCogent's client list during 2007, joining a retained portfolio that includes names such as, Virgin Media, and the National Australia Bank Group.
beCogent opened a new site on a short lease in Glasgow city centre in 2007, however its success means it is likely to make a longer commitment to a larger city centre property this year. It currently trades from 120,000 sq ft in four properties in Airdrie, Erskine, Kilmarnock and Glasgow.
About beCogent
beCogent was founded in 1999 in response to the rapid expansion of the multi-billion pound call centre sector. It has grown organically, with support from Scottish Enterprise, to become one of Europe's leading providers of outsourced customer contact services.
Date - 17/03/2008
