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Revenues and profits rise for Caerphilly’s Creditsafe Group

Published in Business, News at 09:00, Monday April 6th, 2015.

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A business information company based in Caerphilly has reported strong financial growth with a 23% increase in revenue.

Creditsafe, based on Caerphilly Business Park, is the world’s most-used provider of company credit reports.

Last year its revenues grew to £70.8 million from £57.5m. Operating profits grew from £13.1m in 2013 to £17.6m last year.

The company also saw its global headcount reach 1,000, up from 800, with its service centre in Cardiff doubling in size.

Creditsafe Group CEO Cato Syversen said: “Twenty-fourteen was another successful year for Creditsafe as we continued to grow our global operations organically in terms of headcount, profit and revenues. It has been particularly pleasing to see significant growth in the USA, where we opened an additional facility in Phoenix and grew our original team in Allentown, Pennsylvania to 150 people.

“In addition our new operation in Italy celebrated its first birthday and is already proving to be our most successful country launch ever; we’ve delivered over 500,000 credit reports to more than 3,000 subscription customers across Italy in a little over 18 months.

“This continues to show that our unique culture and approach to selling company credit reports can be exported successfully to other countries and we intend to maintain global expansion over the coming years.

“Recognising that this growth is only possible because of the quality of our people, we have announced a series of programmes designed to focus on employee engagement and to help everyone on the team reach their full potential.

“These include a new range of structured management training schemes across the group. We also have exciting plans for new products and services in the year ahead, including a clear focus on including new data sources in our credit reports.

“Finally, to support our continued growth we have doubled the size of our Group Service Centre by taking the whole second floor of the Caspian Point One building in Cardiff Bay.”

For 2015 and beyond, the company has said it is aiming to focus on improvements in data quality, consolidating and widening international coverage and developing more sophisticated solutions for larger customers.

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