Germany’s GRENKE Group saw growth of 42.3% in
new business during the first nine months of 2010.
The company has also expanded rapidly into
Europe, including new branches in the UK, Italy and Portugal. It
also entered Luxembourg and opened a factoring business in
Switzerland and is now looking at expanding into Turkey and
Greece.
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Renate Hauss, head of corporate
communications, said: “Turkey is a fast-growing economy and we’re
not there at the moment. For Greece, we’re still looking at due
diligence – the decision’s not been made yet. We think there’s
potential there when its problems are resolved.”
Volumes at GRENKE hit €492m, compared to
€345.8m in the first nine months of 2009, and the company is
expecting a total of 30% new business growth for the year,
including franchise partners.
Its international business also performed
well, contributing 58.5% to the Group’s new business. Growth was
supported by a “continued rise in the number of enquiries and the
weakening of competitive intensity”, the Group said.
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