Business rate appeal volumes drive growth at CVS
CVS, the specialist in challenging business rates charges has reported strong growth for 2012, and is expecting more of the same this year.
The Manchester-based group, which has smaller sales and surveying offices in London and Bristol, said it had seen “rapid momentum on the back of huge demand” for its cost-saving services over the past year.
Finance director Mark Walker said: “We continued to grow and invest during 2012, with turnover increasing by 41% to £14.6m and average staff headcount increasing by 30%, reflecting the on-going investment we have been making in the infrastructure of the business.
“We also managed to generate an EBIT of £1.01m compared with £3,000 in 2011 and have a solid platform for further market share growth.” over the balance of the 2010 Ratings List, allowing us to deliver enhanced levels of savings for our clients.”
Since 2010 staff numbers at CVS have soared from 80 to 270. The majority, around 200, are based at Oakland House on Talbot Road, Old Trafford, where it occupies around 11,000sq ft of space.
The company has grown its client base to 29,500 companies, of which 1,500 are large corporates.
The business is owned by founder Jason Clarke and the management team of chief executive Mark Rigby -( the former boss of Lambert Smith Hampton and current chairman of London Wasps rugby club), Mr Walker and experienced non-executive chairman Peter Chapppelow.
Mr Walker said: “We are expecting more of the same this year, we’re trying to work positively with the various agencies to make the appeals process quicker – the Valuations Office is creaking a bit in terms of the bureaucracy.”
There is a timespan of between 15-18 months between agreeing to work for a client and taking its business rates case to appeal.
