IT services company CMG saw a 33 per cent growth in half-year profits to #15.1 million as sales, staff numbers, and share price continue to grow at a rapid rate.
Turnover for the six-month period to 30 June rose 21 per cent to #140.7 million as consultancy and outsourcing business increased for all its European operations.
CMG said the business growth had been helped by a very low staff attrition rate, as employee numbers rocketed in the space of a year by nearly 1,200 to over 4,200.
The relative meritocracy of CMG's corporate culture may help staff retention, according to a company spokesperson. Salaries and personnel files of all staff are made public, while everyone is encouraged to buy shares in the company. At associate director level and above, there are even minimum share holding requirements, which the company believes encourages loyalty and productivity.
Shareholding employees are presumably well satisfied with their company's performance on the stock market. The fivefold increase in share price in less than two years from the #2.90 flotation price means employees with an average number of share options are now worth over #110,000.
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