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30 November 2009
Q: What have Kerry Katona and Bevan Brittan got in common? A: They both get their bills paid by Iceland.
The South West firm suffered from post demerger stress disorder following its break up with Ashfords in 2004m.
Back then net profit stood at £9.4m.
The following years saw Bevan’s fortunes fall faster than a C-list celebrity’s appearance fee and the firm’s dirty linen was aired for all to see.
But the firm cleaned up and has now smashed through its financial targets, reporting year end profits of £8.6m, up from £6.1m.
This massive comeback can be put down to the careful management of its newly-appointed chief executive Andrew Manning. He replaced the firm’s former CEO Stuart Whitfield in September 2008. The firm’s turnaround was helped by the fact it was drafted in to help local councils reclaim millions of pounds tied up in Iceland’s crippled banks.
That, Manning will hope, is where the Katona analogy ends.
For more on the financial performance of SouthWest firms click here.
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