PRESS RELEASE – 18 January 2013
Prestige Network celebrate 750% growth in profit
Thatcham-based family business language services company Prestige Network is celebrating a 750% growth in profit following an increase of business in 2012.
Despite gloom and doom throughout much of the UK economy, the company – run by brother and sister Shohreh Fleming and Shawn Khorassani – has seen its profits soar by a phenomenal 750% in the five months from July 2012.
Shohreh Fleming, Chief Executive Officer, said: “We had a fantastic end to our financial year (ending 30 September 2012). In fact during the last quarter of our financial year, we showed more profit than in the first nine months. Our figures show that our profitability grew by 750% from July to November 2012.
“The future is looking good for us and we are on target for further growth this next financial year (2012/2013), which is not something which can be said for many companies in the current financial climate.
“Our leap in profits is symptomatic of the need to meet the country’s continually expanding and diversifying language base. Many public and commercial organisations know the benefits of communicating with non-English speaking audiences – they have recognised that language is a potential obstacle which may restrict access by foreign nationals to their services and products. By identifying that obstacle and delivering languages services to overcome that, this gives them a huge competitive advantage.
“Our continued success is also down to the fact that our staff are invaluable to us, so we ensure that it’s a happy place to work. It’s a great pleasure to be able to offer continued employment during difficult economic times. We are very optimistic about the future of Prestige Network.”
Prestige Network now employs more than 20 staff and 5,000 specialist language freelancers based all over the UK, who speak and translate more than 200 languages. Prestige Network caters for language and communications needs in the commercial and public sector (including the NHS, local government departments, charities, the police and other public organisations).
Two major contracts in the last financial year were:
- To provide Arabic interpreting to a big British corporate company in the oil and gas industry for eight months in 2012-2013.
- A coveted two-year contract to provide British Sign Language (BSL) and spoken language services to the Department for Work and Pensions. It follows Prestige Network’s successful place on a framework agreement by Buying Solutions, the national procurement partner for UK public services.
More details about Prestige Network are on www.prestigenetwork.com or 01635 866 888.
Note to editors:
- Picture caption: Shohreh Fleming, Prestige Network’s Chief Executive Officer.
- Company overview: more than 20 staff, 5,000 linguists, 200 languages and dialects.
- Formed in 1991, Prestige Network is a specialist language services provider based in Thatcham, Berkshire.
- Prestige Network provides a full UK wide service in all languages.
- It can cater for all language and communications needs in the commercial and public sectors, including government departments, the NHS, charities, the police, local authorities and other public and commercial organisations.
For more information, contact Shohreh Fleming (Chief Executive Officer) at Prestige Network on 01635 866 888.