Quindell's revenues jump 904% to £137.6m

Outsourcing specialist Quindell increased its 2012 earnings before interest, tax, depreciation and amortisation (EBITDA) by 681% to £52.2m (2011: £6.7m).

Quindell’s gross sales rose to £171.9m (2011: £13.7m) and revenue to £137.6m (2011: £13.7m).

The rapid growth comes after a year of acquisitions at the firm including Accident Advice Helpline for £66m and insurance technology specialist Metaskil.

The firm hopes to bulk up the business with legal, insurance and technology solutions to help insurers navigate their way through the post Legal Aid, Sentencing and Punishment of Offenders Act (Laspo).

Quindell chairman Rob Terry (pictured) said: “This is the second year that the group has delivered strong results, exceeding market expectations in every key performance indicator.

“Just as importantly, we have delivered on our high level strategy to focus on earning-enhancing acquisitions that have been identified and prepared for integration over a significant period within our two core markets: insurance and telecoms. 

“This strategy provided a platform to deliver disruptive business transformation solutions that improve efficiency and effectiveness in our core markets, while driving down costs.

“At the same time, it enables us to develop combined propositions that are compelling for the marketplace to achieve significant organic growth in this period of major technology and regulatory change.”

Terry said that the firm was looking to continue its growth strategy through new clients, adding more services to existing clients, and actively seeking out acquisitions.

“The board is confident that we are very well positioned for continued growth in 2013 and expects to rapidly progress our move towards a full listing. It is the board’s current intention to pay a maiden dividend to shareholders in early 2014 in respect of the group’s performance for year ended December 2013.”