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Parasol umbrella leading equity-backed company in the North West

Published on Feb 5, 2010 |

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Not content with being the UK's largest PAYE umbrella company, Parasol has also been ranked at the top of the Sunday Times Buyout Track 100 for the fastest growing profit margins of any equity-backed business in the North West.

The umbrella company also made it to No.14 in the nationwide rankings after its annual profits grew by over 87% over the past two years to nearly £3.6m.

Chief executive of Parasol Group, Rob Crossland, said:

"This is great news for Parasol. The re-branding of our core business and the acquisition have been very well received, and we've very much kept our focus on service - 98 per cent of the money that comes into Parasol is paid out the very same day.

"It's especially pleasing to be ranked top in the North West, particularly as we've been busy delivering tailored projects to help mitigate risks for agencies and clients in the region.

"Looking to the future, our industry as a whole is facing huge challenges in the shape of the Agency Workers Directive (AWD), but we're planning to build on our strengths and focus on promoting the professionalism of our sector through the Service Providers Association (SPA) - we're very much here for the long term".