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Huntress Group announces Operating Profit increase of 67% and continued overseas expansion

Huntress Group announces Operating Profit increase of 67% and continued overseas expansion

Huntress Group announce 2011 operating profit (before amortisation of goodwill and depreciation) increase of 67% to &pound2.5m on sales of &pound62m. Gross profit increased by 5% during the period to &pound20.3m and the company generated net cash of &pound2.8m.

2011 also saw a reorganisation of the company, with all of its businesses in the different markets trading under one common brand, Huntress Group, and a simpler management structure. In addition the Group has invested in its corporate infrastructure following a review of its IT and CRM systems and will be going live with these systems in 2012.

The company continued to develop and grow the international operations within the professional services business and invested significantly in its Australian operation with a view to expanding further into the Asia Pacific region. This expansion has continued and since the year end, Huntress Group has opened its first German office in Munich, initially focusing on the technology market. Further international expansion is planned for the remainder of 2012.

Huntress was also recognised in the Sunday Times "Top 100 Companies to Work For" for the fifth year in succession.

John Pullan, who was appointed CEO of Huntress Group in September 2010 said "2011 was a transformational year for us with a greater strategic focus internationally and I am delighted with the growth we achieved both in the UK and international markets. This is testament to our fantastic management team. I am proud that Huntress Group is more than ever, an exciting and rewarding place to work, where our staff can develop their careers and fulfil their potential. Together, we have put the company in a very strong position where its growth will continue and we look forward to some exciting years ahead."

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