Citation chief confident after ‘fantastic’ first half
CITATION, which provides health and safety and employment law advice to small and medium-sized businesses and dental and vets’ practices, is on track for another year of growth according to chief executive Chris Morris.
Mr Morris, the former boss of LateRooms.com joined the Wilmslow company a few months after last December’s buyout by private equity firm ECI Partners, said Citation has had a “fantastic six months” of trading with strong demand from new and existing customers and improved operational performance.
“We have had a very, very good first half – all the major metrics are up. We have employed a strong operational focus and everyone is working really hard to deliver a great service.”
He hinted that the business, which has recently strengthened its senior team with the appointment of Jenny Ingeby as sales and marketing director, would begin to roll-out some new products in the coming months.
“There will be some changes in the next six months, but there’s nothing to announce just yet, ” he told TheBusinessDesk.com.
Citation has just filed its accounts for 2012 – the last year under the previous management and ownership.
The accounts show continued turnover growth from £15.3m to £17.3m and pre-exceptional operating profits rising 22% from £4.5m to £5.5m.
At the bottom line, after an exceptional charge of £1.3m relating to a provision related to income accrual, Citation’s pre-tax profit fell from £4.47m to £4.2m.
