England’s major backlog of business rate appeals helped CVS boost its revenue by 54% last year.
The business rates specialist reported revenue of £22.4m in 2013, compared with £14.6m the year before. Profit totalled £6.4m, compared with £520,000 in 2012.
In 2013, CVS settled more than 12,200 appeals for its clients, which it said resulted in £30.5m of savings.
There is currently a backlog of 163,000 outstanding business rates appeals in England.
Chief executive Mark Rigby said: “As we grow, we are investing back into the business to create an even more powerful platform for serving our clients. It is an exciting time for CVS and we are delighted by the major growth momentum we have established in the past 12 months.”
During the year, CVS launched a centre of rating excellence in conjunction with the RICS which aims to attract graduates to train as rating surveyors.
The centre launched with an initial £500,000 and further investment is expected during 2014.
CVS acts for more than 50,000 businesses across England and Wales, operating from offices in London, Manchester and Bristol.
nick.whitten@estatesgazette.com
