Hitachi Capital (UK) PLC has announced its latest set of financial results that demonstrates significant growth for the eleventh consecutive year.
Profits grew yet again in FY19/20, by 5.1% to £129.4m which, alongside a 2% growth in new business volume and 6% growth in net earning assets, has contributed to a compounded annual growth rate across the last 10 years of 21%.
Hitachi Capital (UK) PLC’s strong financial performance has facilitated investment across the business, including in people – highlighted by a 4% growth in workforce – and in new technology to enhance customer experiences and drive customer satisfaction.
Robert Gordon, CEO of Hitachi Capital (UK) PLC, commented: “I’m proud of our colleagues who have worked extremely hard to deliver consistent growth in a period of unprecedented challenges. This is a reflection of the agility, adaptability and dedication to customer service that is engrained in the culture of our business. These qualities, along with the sound financial foundation they have enabled us to build, will be crucial as we prepare for the challenging economic outlook ahead.
“The last quarter of the financial year was a real test for the Group. Lockdown required us to rapidly move from 5 operational centres to over 1,500 home offices, whilst experiencing an unprecedented demand for our services. During this time we haven’t furloughed a single employee or sought Government support. Instead we were one of the first non-banks to be accredited by the British Business Bank to provide CBILS facilities for our customers, financing over £41m to UK businesses since the year end. And we have continued to invest in our business and our people, to improve efficiencies and meet increased demand for communication and assistance from our customers.
“There’s no doubt the next 12 months will be hard and the Pandemic has undoubtedly checked our growth in the last few months, but looking ahead I am confident that the improvements we’ve made will strengthen the business and help us to generate sustainable profitable growth in the post-COVID-19 economic landscape.”