November 24, 2020 @ 11:11 by Steven Hugill
A business-to-business energy solutions provider has revealed plans to increase its workforce after defying the COVID-19 pandemic to post strong financial results.
Global Procurement Group (GPG) says growth has remained “sustained and continued” through 2020, with projected yearly revenues tipped to hit £67 million – a 56 per cent increase on the figure recorded in 2019.
The business – which comprises energy consultancy Northern Gas and Power – also expects to deliver EBITDA of £31 million in 2020, which would represent a significant increase on the £14 million recorded in 2019.
Bosses say the successes will be followed by a recruitment drive, with a Gateshead office move set to help take its headcount from in excess of 700 to around 1000 people.
The company is due to switch to the RIGA Building [pictured below] early next year, where it will operate from four floors of the waterfront base.
Referring to its financial successes, bosses say they are maintaining momentum that began in 2017, with revenue having grown at 40 per cent across each year since.
They also revealed revenue growth has been strong across all its markets, with particularly strong growth in the relatively new French and US sectors.
GPG entered France in 2014 and officials say revenues are growing at more than 110 per cent per annum from 2017 and 2020.
In January this year, its Energies France division took on a new 13,000 sq ft Paris office.
However, with continued expansion meaning the site is already approaching capacity, chiefs have scheduled a move into larger premises in April 2021 – promising in the process to create 150 further jobs.
Meanwhile, Global Procurement Group’s founder and chief executive Fokhrul Islam has received an industry honour.
Coming out on top in Lloyds’ private equity arm LDC’s Top 50 Most Ambitious Business Leaders awards, Fokhrul was recognised for his “dogged determination to realise his vision and proven track record for achieving growth, both at home and overseas”.
Fokhrul [pictured left] said: “I’m extremely grateful to have been selected for this top award – it’s an honour.
“It’s been an exceptionally challenging year and I’d like to thank my global team for all their amazing efforts, day-in, day-out.
“Despite the tough conditions, we are continuing to expand across the globe, growing our headcount and customer base.
“I’m very grateful for this recognition and would like to thank LDC and also congratulate everyone involved in this Top 50 process.”
John Garner, of LDC, added: “We have supported ambitious business leaders for 40 years and like to champion success.
“Fokhrul’s dogged determination, attention to detail, and the sacrifices he has made to achieve success really set him apart.”