The customer service strategy saw 70% of revenues derived from repeat business and customer satisfaction scores in excess of 80%.
During the year to April 30 2014 Midas saw turnover increase to £202.9m from £180.5m last time while pre-tax profits were up to £2.1m from £1.2m.
The group also enjoyed a 46% increase in net funds from £24m to £35.2m.
Chief Executive Alan Hope said: “Despite continued pressure on margins, our sustained focus on customer service continues to deliver high levels of repeat business and we remain well positioned to maximise opportunities presented by the tentative recovery.
“Since launching our customer service vision and strategy two years ago, results have exceeded expectations and in the last 12 months we have achieved record customer satisfaction scores in excess of 80%.
“It’s no coincidence that in the same period we saw 70% of revenues come from repeat business, contributing to double-digit growth in turnover, while our relentless focus on costs and risk mean we were able to deliver a 73% increase in taxable profits.
“There is no doubt that the customer service culture in our company has led to improved performance, increased levels of satisfaction, more repeat business, and improved financial results.”
The Midas Group is the parent company of Midas Construction, Midas Retail, Midas Commercial Developments and housing specialist Mi-space.
Mi-space made the single largest contribution during the year with pre-tax profits of £1.5m – a rise of 350 per cent on last year, despite a small drop in turnover for the period.
Midas Construction operates through six offices across the South West, South East and South Wales.
Construction’s turnover rose by 33% in 2013/2014 with tight cost control contributing to profits after tax of £250,000.
Midas Retail saw a marginal increase in turnover of 1% compared to the previous year, despite a difficult marketplace with restricted capital investment in the supermarket sector.
Midas Property Services UK – which trades as Midas Interiors – increased its specialist fit-out and refurbishment work, with a greater proportion carried out through Midas Construction to provide clients with a bespoke service.
Hope added: “We have seen some upturn in the market. Housing construction grew for the fifteenth month in April, and momentum across the rest of the construction sector rose for the twelfth month in a row.
“But competition is still fierce, and to win work we must look to deliver the same customer experience as other, more consumer-facing industries.
“The flexibility and a willingness to work with clients from the very start has been a key element of our success, and this will become more important for us all as clients want even more involvement in the services they engage with.”
