Stockport technology firm revenues grow to £55.8 million

Turnover at Stockport technology firm CDL rose to £55.8 million in the 12-month period to 30 September 2018, up from £52.6 million in the previous financial year.

Pre-tax profits also increased to £8.6 million amid continued investment in developing solutions to enhance consumer experiences of insurance.

During this time, CDL has continued to pioneer InsurTech propositions, including investing in its Chorus mobile platform, which incorporates cutting-edge technologies to enable proactive insurance recommendations.

The year saw growth of Stockport technology firm CDL’s customer base, with more high-volume retailers migrating to its flagship Strata platform, as well as an active projects pipeline. These included the launch of Hummingbird Syndicate, with major insurance brands joining together to combat fraud by sharing insights into online quote manipulation garnered using the company’s real-time Hummingbird data intelligence solution.

CDL Commercial Director Nigel Phillips said:

“These strong financial results are extremely positive given the more challenging economic and political climate in the last financial year. Our success has very much been driven by our people and it’s confirmation that our strategy of investing in our talent base and in research and development is delivering long-term sustainable growth.

“We will continue to focus on supporting our customers to attain competitive advantage through technology and on driving outstanding service levels.”

Other investments included bolstering CDL’s cyber security credentials, with the tech firm attaining the globally recognised ISO 27001 certification for security management in 2018. It also received Top Employers certification for a third consecutive year, signalling its progressive people policies and status as one of the best places to work in the UK.

On the back of these successes, the company was featured in the Financial Times’ FT Future 100 UK 2019 list, highlighting 100 high growth UK companies that are tipped for future success while demonstrating a long-term commitment to sustainability and making a positive impact in the communities in which they operate.