Brightstar Group cautious on growth following record financial results

The Brightstar Group has announced record financial results for 2022, during which it delivered a 21% increase in turnover.

The Group, which includes Brightstar Financial and Sirius Property Finance, achieved a record turnover of £12.6m in 2022, representing a 21% increase on 2021, which was itself a record year.

Lending across the Group totalled £1.52bn in 2022 and headcount increased by 5.5%, from 73 in January 2022 to 77 in January 2023.

Throughout the year, the Brightstar Group delivered this record growth whilst also maintaining excellent standards of service, and in 2022 the Group achieved 722 5-star reviews on TrustPilot.

Looking ahead at 2023, the Brightstar Group has a more cautious outlook for growth amidst a more challenging market. However, the Group still forecasts that it will grow its lending to £1.78bn and increase turnover by 6.2% on 2022.

Rob Jupp, Group CEO at the Brightstar Group, said: “We’re really pleased that we have continued to deliver record year-on-year growth across the Brightstar Group, but it’s even more encouraging that we have delivered this record lending whilst maintaining our commitment to outstanding service. This is evidenced by the 722 5-star reviews we’ve received on Trustpilot, and it reflects the dedication of our team and our passion about being the best in everything that we do.

“Our continued focus on delivering the best possible service to our partners and clients will become even more important in the year ahead, with expectations that overall lending will fall. Against this backdrop, we are more cautious about our growth forecasts in 2023, but we remain confident that our stand-out proposition will continue to win market share and we still expect to grow our lending and our turnover despite the challenging outlook for the next 12 months.”