’The business is well placed to achieve its growth ambitions,’ says executive chairman
Winn Group has not ruled out making acquisitions to help further enhance its growth after securing a 139% year-on-year increase in turnover.
In a statement released earlier this week (28 June 2023), the claims management company said it achieved a turnover of £235m in 2022, up from £98m in the previous year.
It also increased its earnings before interest, tax, depreciation and amortisation (Ebitda) from 15.8m in 2021 to £22.4m in 2022.
The firm specialises in providing accident management service for all motor related claims, including services for both fault and non-fault claims.
Winn Group said its growth was driven by higher volumes of business and market driven increases in the cost of vehicle repair and hire charges.
Executive chairman and founder Jeff Winn said the medium-term target was to markedly grow its Ebitda and that the primary focus was organic growth.
“But, if an acquisition opportunity came along that strengthened our business, we would consider it,” he said.
“Whilst we do not rule out acquisitions, our primary focus is organic growth, which delivers scale without significant injections of fresh capital.
“I believe the business is well placed to achieve its growth ambitions.”
Investments
The Newcastle-based firm has also made investments in technology to help it grow.
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This includes a customer facing cloud based omni-channel contact centre solution and a three-year extension deal to continue building its low-code automation and AI journey for customers.
Chris Birkett, chief executive of Winn Group, said: “We will continue to invest in technology to become even more efficient and at the same time achieve the right balance between human-based customer interaction and AI cloud-based solutions.”
The firm also provides local employment opportunities and currently employs 535 people.
“We are a leading employer in Newcastle and we have plans to increase the number of employees to around 700 over the next 12 to 18 months,” Birkett added.
“This will be a significant boost to the local employment prospects for people living in and around the area.”
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