Global Procurement Group (GPG) capped off a successful 2020 with revenue having grown at 40% p.a. from 2017 to 2020. The global group’s most recent accounts showed turnover rose by 48% to £44m for the year ended 2019. Revenue growth has been strong across all markets GPG operate in, with particularly strong growth in the relatively new French and US markets. GPG entered the French market in 2014 and has grown revenues in this short time to account for 16% of the group’s total revenue by 2020. French revenues are growing at over 110% p.a. from 2017 and 2020.
Despite the challenges presented by Covid-19, 2020 saw sustained and continued growth, proving to be an extremely strong year for the group. Group revenues were projected at £67m for end of 2020, demonstrating a 56% increase over 2019 figures.
GPG’s headcount surpassed 700 in 2020 and final preparations and plans are being put in place for its proposed move into its new HQ – RIGA – later this year. The business is taking 4 floors (30,000 sq. ft) of the stunning new development on Gateshead-waterfront.
2021 will see continued expansion, with the group’s global headcount set to grow to around 1,000 heads.
In 2020 GPG launched a price comparison website targeting micro-businesses: Business Energy Quotes in the UK and Energie Supermarche in France (both launched in Feb 2020). This online, technology-enabled proposition has allowed for the expansion of its customer base to now include the micro SME sector, a sector which has historically been untapped by the group.
Through its subsidiary ClearVUE Systems, GPG has also launched its cloud-based, energy management software and hardware solution, allowing B2B customers to monitor energy consumption and work towards a NET Carbon Zero Future. This specialist sector for the Energy Monitoring Systems market represents an estimated £500m opportunity for the group across the UK and France. The market is forecasted to grow at 10% p.a. and the group hopes to gain a leading market share through is proprietary technology solutions.
To finish the year in style, its CEO, Fokhrul Islam, took the top prize in Lloyds LDC and The Telegraph’s Ambitious Business Leader programme, being named Britain’s Most Ambitious Business Leader.