The company, which operates 2,600 minicabs and a luxury fleet of 200 VIP cars in London, announced a turnover of £105 million for 2010-11, up 19% on last year.Addison Lee, which serves over 16,000 corporate clients and carries 10 million passengers per year saw bookings rise by 24% in 2010. Profit after tax was £3,255,515 (up from £1,717,830 the previous year).
John Griffin, founder and chairman of Addison Lee said: “Our performance this year proves that smart businesses can thrive in the recession. Addison Lee has continued to invest in new vehicles and new technologies such as iPhone and Blackberry booking applications and now we’re reaping the rewards.”
“Big businesses in the City may have been focussed on reducing costs but it’s clear that Addison Lee’s competitive pricing and superior service has made us the de-facto choice for corporate travel in London.”
“I have always said that the recession would act like a colonic irrigation for the economy; flushing out badly run or uncompetitive businesses, so it’s very pleasing to see that our commitment to professionalism and technological innovation has helped us to grow as our rivals are fading.”
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