Thomsons Online Benefits, the market leader in flexible benefits and benefits administration, has made its very first appearance in the prestigious Sunday Times PwC Profit Track 100 listing compiled by Fast Track.
The Sunday Times PwC Profit Track league table ranks Britain's 100 private companies with the fastest-growing profits, based on their latest 3 years of available accounts. This is the first time that Thomsons Online Benefits has appeared in the Profit Track 100, although they have also recently featured in the Buyout Track 100 (ranked 34th, just ahead of popular fashion retailer Jack Wills) and the last five Tech Track 100 league tables ranking Britain's 100 private tech (TMT) compan! ies with the fastest-growing sales over the latest three years. Thomsons became only the fourth company to have been listed for five consecutive years.
In a profit league topped by ice cream maker R&R, Thomsons was ranked 73rd, ahead of companies such as Farrow & Ball (the popular purveyor of heritage wallpaper and paints) and the Bond Aviation Group.Michael Whitfield, Chief Executive Officer, commented, “We have appeared five times in the Tech Track and then recently for the first time in the Buyout 100 but this really is the icing on the cake. To have grown our profit so consistently over the last 5 years, despite a savage recession, makes all of us at Thomsons extremely proud. We are confident that there is much more to come over the next five years”
Michael founded Thomsons Online Benefits with Chris Bruce in 2000. The idea for Thomsons evolved over a number of years from working with clients who were increasingly frustrated by the growing administrative burden and who wanted to find a more effective way to both run and empower their employees to take control of their benefits. When he met Chris Bruce, the final piece of the jigsaw fell into place and a formidable new partnership was created. A year later, Thomsons Online Benefits was born with the foundation of the Benefit Express Ltd in December 2000. In 2004 pi Capital bought a 48% stake for £4m. Profits grew by 50% a year, from £1.5m in 2007 to £3.4m in 2009.
