Inntel has posted figures showing further growth of 4% in terms of client spend, along with a further increase in investment in both its technology and staff with a 66% increase in development, 8% increase in resource along with 189% increase in training. While there was a budgeted reduction in profits during the period, due to this investment, the results have brought sustained growth during the current financial year, though both 95% client retention and increased market share, specifically through meetings and events.
The Colchester-based group’s strategic report which accompanied the accounts stated: “The company continues to attract new business whilst retaining its existing clients, both of which have contributed to the company’s growth during the last financial period. The company’s meetings and events team have benefitted from greater growth than other departments as a result of persistent sales activity in this area and the updated Meetings Management Portal which provides a single solution to online meetings management.”
“The financial results are the reflection of the investments of the senior leadership team and the directors had made in the company both strategically and financially. It is expected that the company’s rate of growth will continue.”
The report noted that the current financial year has seen further growth of 16% from a 23% increase in transactions.
Managing director Douglas O’Neill stood by his decision to provide continued investment across the business and was vindicated by the success of the financial results and growth over the last seven years.
He said in a statement: “Not only has the company achieved impressive financial results over the last three years, but it has also continued to grow its staff numbers and the expertise and knowledge throughout the business, benefitting both the company and service received by its clients.
“Its continued policy of recruiting new staff with experience, knowledge and passion for the industry has ensured that the company continues to attract high quality and dedicated staff. The company is strong financially with a financial strength as quoted by D&B, greater than 98.7% of its competition.”