Downturn-defying Diamond Group aims to break £2m turnover

The Boldon-based Diamond Group is on track to hit growth targets after years of sustained revenue increases

Managing director of Diamond Group, John Burns
Managing director of Diamond Group, John Burns

A North East business support company that continued to expand throughout the recession now has its sights set on 35% turnover growth by 2016.

The Boldon-based Diamond Group has seen revenues rise by 10% year-on-year for the past nine years, despite the region being among the hardest hit by the economic downturn.

In 2013, turnover sat at around £1.31m, a figure set to rise to around £1.45m this year.

By 2016, the group intends to be turning over more than £2m, while growing headcount from 15 to around 20.

Starting life in 1992, Diamond Group began with Diamond Business Systems, and launched Diamond IT Solutions in 2006. Three years later, Diamond Communications was established, with Diamond Asset Finance following in 2011.

The latter - which allows businesses to invest in much-needed equipment to run more efficiently and keep up in the technology stakes - has seen particularly strong growth of more than 50% during the last two years, which the owners believe is due to the lack business lending by the banks.

Diamond’s managing director John Burns said the company maintained the “keep on moving” mentality that had been responsible for its success throughout the years.

“For us, the recession was seen as more of a challenge than a hindrance - throughout the economic decline we were looking to move forward rather than simply stay alive,” he said.

“This was a stance that paid off in spades as it even allowed us to acquire a rival telecoms business in 2012 to enhance the services we were able to offer to our existing clients and those of the business bought.”

In the 22 years since its formation, Diamond Group has become a national company, with clients in Liverpool, London and Scotland.

Mr Burns, however, said he refused to rest on his laurels.

“We are constantly looking to extend our clientele,” he said. “We are always looking to expand, be it a small one-man-band set up, or large blue-chip companies.

“With a high number of clients coming from referrals from existing partners, it is perhaps more important that our service is to a higher standard than is expected. This seems to be true, with around 97% of our customers rating us as good-excellent in a recent customer survey.”

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