Parasol Family celebrates strong financial results
In the financial year to April 2011, the Parasol Group increased turnover by 13 per cent to £382.9m with pre-tax profits returning to growth at £4.6m following a period of investment in the previous financial year.
Rob Crossland, chief executive of the Parasol Group, commented that the company was now reaping the benefits of the previous investment and is confident that the current financial year will end on a similar high.
Crossland said, “Last year we made significant investment in technology, systems and processes and although turnover remained high, this obviously had an impact on profitability in 2010. However, the latest results clearly show that we made the right the decision in continuing to invest, evolve, adapt and grow.
“In the last 12 months we have added Silverline to the group, launched a comprehensive range of AWR solutions for our staffing industry partners, and provided project services for leading recruiters, all of which indicates that the current financial year will be equally successful. ClearSky Accounting continues to perform well and now has a client list of over 3,000 which makes it one of the top 100 accountancy practices operating in the UK.
“We continue to have lots of ambition. We will invest at least an additional £500,000 this year and we believe we have opportunities for growth in both the UK and abroad.”