'Encouraging signs' of market recovery as Dundee's Insights books turnover rise
A Dundee-based personal development group whose technology is used by millions of people worldwide has given an upbeat outlook after reporting solid pre-Covid sales growth.
Accounts lodged at Companies House show turnover at Insights Group rose 6.4 per cent to £73.3 million during the year to March 2020, with operating profits of £8.6m, down from £14.4m.
The group said it had invested £5.4m in its strategic programme – allowing it to launch a host of online products and “virtual experiences” in the wake of the pandemic.
Insights works with many of the world’s largest companies, using its memorable four-colour psychological model to help team members develop crucial human skills.
More than six million people worldwide have now experienced the firm’s flagship personality evaluator tool, including staff at more than 80 per cent of FTSE and S&P 100 companies.
In response to the pandemic, the company has launched a virtual accreditation programme for its Insights Discovery practitioners and has since released five further online learning products.
“Significant” investment has also been made in the continued integration of the business following the acquisition of joint venture operations across the globe.
Fiona Logan, chief executive of Dundee-based Insights Learning and Development, said: “Like many businesses, Insights has faced considerable challenges as a result of the global pandemic.
“Our performance and investment last year enabled us to respond to these challenges quickly, and to roll out new digital products and experiences at pace.
“There are encouraging signs that the market for our products and services is recovering well, with learning and development remaining a growth sector.
“This month we expect to deliver virtual Insights Discovery accreditation to more than double the number of clients we reached in-person during the same month last year.
“Where local rules allow, we have been able to restart face-to-face delivery with appropriate safety and distancing measures in place.”
She added: “In this increasingly disconnected, chaotic and disrupted world, our commitment to our purpose – underpinned by our core focus on humanity and community – is more relevant than ever before.”
Insights Group also encompasses Stirling-based Vidatec, which specialises in developing web and mobile apps designed to enhance health and wellbeing.
Vidatec counts the development of its “engage4” app – which supports employee engagement – and an award for its work on Public Health England’s Couch to 5K initiative among its successes.
Chief executive Greig Johnston pointed to significant opportunities in the coming months.
“Vidatec is perfectly placed to support those companies which want to respond to the disruption caused by coronavirus by investing in digital services and solutions,” he said. “We have high hopes for our engage4 app, which we believe is ideally suited to supporting a newly remote or blended future workforce.”
Insights Group chief executive Andy Lothian added: “The experience of this pandemic is likely to change how we live and work with one another – but what won’t change is the need for those brilliant human skills of curiosity, ingenuity, empathy and teamwork.
“These skills allow people to respond positively to whatever disruption they face, and businesses and teams will need them more than ever as we continue to face and recover from the challenges posed by the virus.”
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