Leonard Curtis lines up more growth after strong 2010
Strong trading for business recovery specialists: war chest to be be opened for 2011-12
BUSINESS RECOVERY specialists Leonard Curtis posted strong growth in the last year.
Turnover climbed 15% to £14m for the year ending 30 April 2011, up from £12.2m. Operating profit rose to £4.6m from £4.1m.
The firm said that services to struggling businesses outside formal insolvency saw particularly strong growth, in particular its debt advisory division, corporate strategies and finance raising divisions.
“This year we have invested significantly in group infrastructure, made several key appointments nationally and also opened a Bristol office,” said FD Jon Mercer (pictured).
He continued: “The excellent results for the 12 months to April 2011 have been without a full-year effect of this investment, so we anticipate there to be positive impact on this coming year’s performance.”
After gaining a £5m funding package from the Co-operative Bank in February, the firm said it would look to acquisition opportunities to expand geographically and by service line, as well as through “key staff” recruitment.