2009 Profit Track 100
Rank: 15 Richmond Group
Has raised more than £300,000 for a local children’s hospice in the past 18 months
James Benamor founded the first division of Richmond Group in 1999, sourcing credit cards for people who had been refused elsewhere. With no marketing budget, he distributed leaflets himself, walking over 300km in the first month. The group still sees itself as non-conformist, taking on customers that other lenders will not, such as tenants and people with a poor credit history. As the business has grown, Richmond Group has expanded beyond traditional loans and moved into niches such as income-protection insurance, an area it believes will expand in the present economic climate. Profits have grown 96% a year from £1.5m in 2005 to £11.3m in 2008.
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James Benamor founded the first division of Richmond Group in 1999, sourcing credit cards for people who had been refused elsewhere. With no marketing budget, he distributed leaflets himself, walking over 300km in the first month. The group still sees itself as non-conformist, taking on customers that other lenders will not, such as tenants and people with a poor credit history. As the business has grown, Richmond Group has expanded beyond traditional loans and moved into niches such as income-protection insurance, an area it believes will expand in the present economic climate. Profits have grown 96% a year from £1.5m in 2005 to £11.3m in 2008.
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Company facts
Richmond Group
Financial services provider
Company website
| Profit growth | 95.55% pa |
| 2008 profit | £11.3m |
| 2005 profit | £1.5m |
| 2008 staff | 378 |
| Founded | 1999 |
| Location of HQ | Bournemouth |
| If applicable: * = annualised figures ‡ = draft accounts |
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