HCT Group reports strong growth and record social investment
HCT Group, one of the country’s most successful social enterprises, today announced another year of strong growth and social investment in its results for the year ended 31 March 2010. The results underline how effective the social enterprise business model can be in the delivery of public transport services to all members of the community.
HCT has grown by over a hundredfold since 1993, and 2009/10 continues this trend of rapid growth. The results show a 14% increase in generated income, with turnover growing to £23.3m for the year as compared to £20.18m in 2008/9. Commercial successes during the period included the doubling of the number of red London bus routes operated by the Group from four to eight, and the commencement of operations in Hull.
As a social enterprise, commercial success is only part of the story. Also published today is the Group’s Social Impact Report, which details how the Group aims to make a difference in the communities it serves. The report shows that commercial success enabled a record 26% of HCT’s profit to be reinvested into its community activities (versus 23% for the year ended 31 March 2009).
The Social Impact Report sets out what this community reinvestment has achieved over the period. Highlights include:
· The Group delivered 98,592 passenger journeys for community groups – an increase of 64% year on year
· 108,124 passenger journeys were provided to disadvantaged individuals, up 26% on the previous year
· Jobs created at HCT more than doubled and all of these jobs were created in areas of disadvantage
· 117 previously unemployed people found jobs as a result of training and support supplied by HCT, also more than double last year’s figure
Dai Powell, Chief Executive of HCT Group, said: “At HCT Group, we think that to be an effective social enterprise, we must first be an effective commercial enterprise. These two sets of results show that this is working in practice - our commercial success is really enabling our community impact."
The social impact report can be viewed in PDF format here. HCT welcomes feedback to the report. This can be supplied by applying the information on the contact details page.