HR firm reports 191% growth in profits

Derby-based LoatesHR says it has just had its two successive most successful months since the company was formed in 2011.

The company is reporting tha, in May, profits were up 191 per cent on the same month the previous year and were 11 per cent better than the best month of 2017, while June saw an 81 per cent increase on the same month last year.

The trend continued in July with LoatesHR reported increasing turnover in quarter two – up 46% on the previous three months and up 17% on the previous year.

The company, based on Friar Gate, puts its success down to developing its own training brand, LoatesTraining, reducing costs and “significantly” increasing its marketing efforts.

Directors Sarah Loates and Kevin Marks have developed a portfolio of training courses including a guide to GDPR.

Previously, the company had offered training only as a sub-contractor.

Loates said: “Because our human resources team is so well established and respected, I have had more time to develop our training strategy and deliver courses.

“This has meant an increase in turnover on training of 85% between January and May year on year and 92% by comparison to May last year.”

She added: “Diversifying our offer and increasing our profile has certainly reaped early dividends and this will be a springboard for us.

“Indeed, our training offer has been so well received that we have taken on an extra staff member.”
“We have already begun working in the recruitment field, with our new LoatesRecruitment brand, and are confident that will lead to an even stronger business.”

The company has recently completed its first recruitment project for an Burton-based business.

“We use our networks to find the ideal candidate and our technical expertise to make sure they know their stuff,” added Loates.