With a profit margin of 51.5% for 2017, insurance technology business The Qdos Group has ranked first in The Sunday Times BDO Profit Track 100.
In addition to placing first in the UK, Leicestershire-based Qdos Group was also revealed to be the private company with the 55th fastest growing profits in the past three years, after declaring £7.1m profit at its end of year in December 2017 and an annual growth of 70%.
The Sunday Times list was published on the 8th April and celebrates Britain’s private companies with the fastest-growing profits.
The Qdos Group has put much of its recent success down to continuous innovation, a lean business model with a low headcount of just 71, and rapidly scalable solutions.
Seb Maley, CEO of The Qdos Group’s Insurance Division commented on the recent achievement: “Obviously, we’re delighted at being the private company with the highest growing profit margin in the UK.
“Placing first is a huge achievement, and a testament to the entire team’s dedication to providing innovative insurance solutions day-in, day-out.
“We recognised that to keep pace with the evolving employment landscape, insurance and workplace solutions desperately needed innovating.
“And so, we invested in researching, developing and building our own solutions, which has contributed to our recent success.
“Our investment and focus on technology has allowed us to maintain a relatively small cost base and headcount whilst driving growth through our online platforms, which we made sure were scalable from the outset.”
“As the only insurance provider on the list, we’re thrilled to represent part of the change our industry is currently experiencing - something which will spur us on, as we focus on building smarter, more cost-effective solutions for the new world of work.”
Richard Rose, partner and head of the Midlands at BDO, the title sponsor of the league table, added: “These high-growth, high-energy and highly-entrepreneurial companies will be the difference between success and failure in our post-Brexit economic future.
“These businesses are playing their part by recording strong levels of revenue and profit growth and by creating jobs.
“We’d like to see the Government do more to help them by focusing on skills, infrastructure investment and tax simplification.”
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