Winn Group is delighted to have delivered another excellent financial performance during the first half of FY24.
During that time, turnover has increased 35% when compared to half year FY23. Winns achieved £142.7m by the halfway point of the current financial year, with EBITDA improving 62% by reaching £16.9m.
Credit hire contracts also rose in volume, increasing by 16%, as the company continued to forge ahead with its expansion based on increasing work volumes.
After recently being recognised as one of the North East’s Fastest 50 growing companies, based on a turnover growth of 108.3% in the timespan taken into account, the positive outlook for Winn Group, despite challenging headwinds in the claims supply chain, bodes well for the future of the company.
Chris Birkett, Winn Group Chief Executive Officer, said: “We have grown exponentially over the last 18 months and it’s important we remain fully focused on delivering for our existing partners.
“But should an opportunity present itself, for example in the credit hire sector, we would take a serious look at it, but the price has to be right and it will have to deliver scale that we cannot achieve organically in the short-term.
“Standing still in this industry simply isn’t an option if you want to go on being successful. I am excited about the potential technology has for making this business even stronger and more efficient.
“We continue to act as the employer of choice in this area of Newcastle and our employees make a significant contribution to the local economy, and my feeling is that Winn Group is a success story that goes under the radar.
“Ultimately, the level of customer satisfaction will be key to our success and our Trustpilot score of 4.8 from over 10,000 reviews suggests we are also delivering a great service.
Jeff Winn, Winn Group Executive Chairman, said: “We have followed an exceptional year in 2022 by delivering another excellent financial performance during the first half of 2023.
“We have grown the business organically by delivering efficiency gains on existing protocol arrangements, as well as adding new partnerships with insurers.
“We now have agreements with 50% of the motor market compared to 25% at the same point in 2022.
“Over the next six months, we will be looking to align the business with insurance consolidators where there is sufficient volume as well as maintaining our momentum to drive growth from our existing agreements.
“Our people deserve great credit for continuing to deliver an exceptional level of service to our business partners and their customers.”