The Group recorded an 18% increase in gross revenue to £201 million (2015: £170 million). Over the same period, group operating profits outpaced revenues, growing by over 20%. The results confirm Callcredit has very much come of age – whilst still the fastest growing of the main UK credit bureaus, it now also occupies the number two position based on UK revenue.
As part of its results reporting, Callcredit also confirmed its ambition for the future: to become the UK leader in consumer insight, decisions and engagement while growing its business and reputation worldwide.
Mike Gordon, CEO, Callcredit Information Group, said: “Today marks a milestone in the Group’s history. By maintaining excellent client relationships and staying focused on a strategy of investing in product and service development aligned to our customer’s needs, we have grown to become an industry leader. Today’s results represent seven consecutive years of profitable double digit revenue growth and provide the springboard for further UK and international expansion.”
Drivers of growth
Growth during the period was both organic and acquisitive. The Group’s client base expanded with a number of key account wins across multiple sectors and was augmented by a number of strategic acquisitions. To support this, IT infrastructure investment also increased by more than a third year-on-year.
Commenting on the drivers for growth, Mike Gordon continued: “During 2016 and the first half of 2017, we have made significant acquisitions and key appointments which will accelerate our business both in the UK and internationally. We bought customer experience specialist, Numero, in March 2016 and device fraud protection firm, Recipero, in September 2016. At the beginning of 2017 we restructured our wider operating model, appointing both a head of North America and a separate head of International Markets. Last month we acquired leading Spanish fraud prevention and anti-money laundering business, the Confirma group of companies, and appointed a head of Spain.”
Sharpened strategic focus
Aligned to Callcredit’s renewed ambition, the Group also confirmed its evolved strategy which will provide a blueprint for continued growth, investment and development work, which is vital to meet the ever expanding needs of businesses and individuals in an increasingly data-reliant world:
- Principal player: be the leading player in our field in the UK
- Expand globally: build our business and reputation in the U.S. and other key markets
- Advance and enhance: evolve our range of products and services through innovation, aggregation, and acquisition
- Be a talent magnet: attract, nurture and retain the best and brightest
Callcredit was formed in 2000, out of a business that focused on marketing information and has featured the same visual identity for the majority of this time. From these beginnings, it quickly evolved into a challenger to the main credit reference bureaus.
With an absolute focus on innovation in the data and insights arena, in recent years the Group has evolved far beyond just a traditional credit reference agency and is today setting out its focus on empowering information – the data, technology and expertise that advance business and improves lives.
Accompanying the concept of empowering information, is a new look visual identity, which is designed to show the interconnected nature of the Group, how it is able to transform data into meaningful insights and answers so its clients and consumers can make faster and more informed decisions.
Alongside the new look brand are a new set of principles, which will be core to the Group’s operations and client offering:
- Relentlessly innovative: constantly delivering better ways of solving problems and serving clients
- Deeply curious: hunters and gatherers of insight
- “People” people: we strive to be easy to do business with, and know that at the start and end of every data point are people with real lives and goals
- Ironclad integrity: our business does best when it does good
Reflecting on the record results, strategy and brand evolution, Mike Gordon concluded: “A sharpened strategic focus and an emphasis on empowering information, give us a clear roadmap and impetus for the next stage of our ongoing growth. Our strong UK base and expanding international operations mean we are increasingly well positioned to serve both our domestic and international clients. Our clear ambition and new values better reflect who we are and what we do.
“With GDPR, PSD2 and Open Banking all on the horizon, regulatory and technological change is having a profound effect on people’s habits and expectations. To better serve them, institutions need to move faster and think smarter. We continue to invest heavily in our capabilities to ensure we meet the ever-expanding needs of businesses and individuals in an increasingly data-reliant world.”