Prestige Network achieved phenomenal financial growth in the last financial year (2008/2009) - its turnover grew by 65%. The company has been growing steadily since its inception 18 years ago, but 2008/2009 and the previous year (2007/2008) represented landmark periods in the company’s history.
Business Development Director Shawn Khorassani said: "The future is looking good for us and we are on target for further growth this next financial year (2009/2010). Our leap in annual growth is symptomatic of the need to meet the country’s continually expanding and diversifying language base.
"Many public and commercial organisations have begun to see 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 language services to overcome that, this gives them a huge competitive advantage."
Prestige Network received an award for its Business Management Team in the RBS Management Team Award 2009, part of the Thames Valley Business Magazine Awards.
Shohreh Fleming, Chief Executive Officer of Prestige Network, said: "Judges were looking for a business management team which has driven their business forward using knowledge and creative ideas and which has developed strong leadership and teambuilding skills - a combination which has resulted in a strong financial performance and an energetic and vibrant place to work.
"Not only is our business management team passionate about we do, but this mind-set and customer-orientated approach is ingrained in everyone working at Prestige Network.
"Our dedication has led to a turnover which has soared 65% in the previous 12 months to a phenomenal £3 million. We love what we do and believe that the way we work is driving up standards of language services to public sector and commercial companies throughout the UK."
The company achieved third place in the RBS Business Management Team Award.
Prestige Network was nominated for the West Berkshire Enterprise Award 2009 under the category ‘Job Creation’. The South East Innovation and Growth Team, funded by the South East England Development Agency, had identified Prestige Network Ltd as one of the region's high growth companies and gave business support over the previous two years.
Prestige Network was recognised in the highly sought-after Coutts Prize for Family Business earlier this year (2009) for the contribution its family business makes to the economy and society.
Business Development Director Shawn Khorassani said: "Family is very important to Prestige Network and solid family values of respect, dependability, commitment and support form the bedrock of everything the company stands for - it is this solid foundation which puts us firmly at the top of our industry. Ultimately, we believe that passion for what we do and our customer-orientated approach at the heart of our success."
The company's most recent major contract success was for a new one-year contract to provide interpreters and translators 24/7 from 1 July 2009 for NHS Gloucestershire. It was won following a 12-way bid and is an exclusive contract, meaning that most interpreting and translating for NHS Gloucestershire now goes through Prestige Network.
Prestige Network made history in October 2009 by providing two British Sign Language/English interpreters (BSL) for a series of UK Youth Parliament debates in the House of Commons, the first time that BSL/English interpreters had ever been used there. The ground-breaking move came as the UK Youth Parliament also made history - it was the only time in 300 years that anyone other than MPs had been allowed to speak from there.
Chris Barnes, Head of Public Sector Sales at Prestige Network said: "We were very proud that Prestige Network played a key role in the democratic process by providing two British Sign Language/English interpreters. The use of British Sign Language/English interpreters was essential in order to engage all young people - enabling every single one of them to integrate into the debates and not to feel disenfranchised. Cultural and language divisions in communities can be a big problem, so it was satisfying to be involved in such projects."
Prestige Network became one of the first language services companies in UK to be awarded the new ISO standard certificate - the nationally recognised accreditation ISO 9001:2008 for its comprehensive Quality Control Management System, which incorporates all aspects of its operations. The new standard is more comprehensive than the old ISO 9001 which it replaces - it now monitors how effective quality controls are, rather than just that they are in place.
Throughout 2009, Prestige Network’s biggest growth has been in its commercial sector. Each month has seen the company acquire about 20 new commercial sector clients - quite an achievement in the recession.
Prestige Network expanded into the office next door in Thatcham Business Village, to accommodate more staff. It doubled the square footage of office space to cope with current growth and ensure capacity for future growth.
Prestige Network can be contacted on 01635 866888.
For more information, contact Susan Tolman (PR Consultant) at Prestige Network on 01635 866888 or Shawn Khorassani (Business Development Director).