UK: Inntel Posts Record Year, With Profits Up 300 Percent
Inntel is celebrating its most successful financial period in the company's 30-year history.
The meetings and travel management company reported a 323 per cent increase in operating profit for the year ending 31 May 2014, up from £205,315 in 2013 to £869,831.
Turnover grew from £2.86 million to £4.05m, a hike of 42 per cent, and group client spend reached £52.7m, an increase of 22.5 per cent on the previous year's total of £43m.
At the end of the year, shareholders' funds stood at just over £2m, and Inntel's upward trend has continued, with the first quarter of its current financial year seeing further growth of 32 per cent.
MD Douglas O’Neill told meetpie.com the company had been developing technology to help clients save money.
“Our tremendous growth over the last 18 months has been due mainly to the strong client relationships built by our teams at all levels, while our systems have helped to drive duty of care and sustainability initiatives as well as compliance and the all-important cost savings," he said.