Record year for BGL Group as growth continues

BGL Group, the financial services group which counts comparethemarket.com among its portfolio of businesses, has announced a profit before tax of £94 million for the year ending 30th June 2014, up 6% on the previous year.

Founded in 1992, BGL Group is now a major financial services business specialising in price comparison, consumer insurance and legal services. BGL Group’s UK-based businesses include comparethemarket.com; Junction, which offers insurance services for partner brands including M&S Bank, RAC Insurance, Post Office, HSBC, Lloyds Bank, Halifax, and Santander; and recently launched life insurance business, Beagle Street. BGL Group also owns French price comparison website, LesFurets.com, and Netherlands price comparison business Hoyhoy.nl.

Performance highlights:

- Total revenue of £507 million, with a profit before tax of £94 million – up from £88 million in 2013;

- 7.5 million customers, up from 6.6 million the previous year;

- High customer satisfaction, with overall improvement in net promoter scores for the year;

- Over £1 million fundraised against goal to donate £3 million to charitable causes by 2017.

Matthew Donaldson, Chief Executive of the BGL Group said:

“BGL Group enjoyed a powerful year during 2013/14, with record profits and revenues up 13%. Our growth over the last year, combined with heavy investment for the future, means we’re in a strong position to meet our ambitious targets.

“Each of our businesses has delivered strong and steady growth over the last year, customer numbers and satisfaction have increased across the board and our expansion into new markets continues.”

 Peter Winslow, Executive Chairman, continued:

“BGL’s continued growth is driven by our unique approach to business. We are a high performance organisation, expecting a lot from our people while ensuring they feel valued and rewarded.  Employee engagement is now at 79 per cent* and we are seeking to build on this still further. This, combined with a robust strategy and relentless focus on the customer, makes BGL a dynamic force in our market.”

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