Phoenix Software’s profits soar by more than 40%

Phoenix Software.
Phoenix Software.

A successful software company in Pocklington is among the top 100 private companies in Britain with the fastest-growing profits, according to a new survey.

Phoenix Software, based off the A1079, saw its profits rise by 43.65% in the three years to the end of October 2012.

In the company’s financial year ending last October, its profits reached £5.3m.

In addition, it had an improved turnover of £84million, representing sales growth of 13.6%.

The company, which employs more than 120 staff, is one of only six in Yorkshire to appear in the 14th annual Sunday Times PwC Profit Track 100, published last week.

Despite challenging economic conditions, the 100 companies on this year’s league table grew their profits over the last three years by an average of 71% a year, to make combined profits of £1.3bn in their latest available audited 

Together they employed 82,800 staff, having added 28,000 employees to their workforce during this time, some as a result of acquisitions.