Broker's profits have risen 103% in the last three years

Giles Insurance Brokers has achieved ninth place in The Sunday Times PricewaterhouseCoopers Profit Track 100.

Earlier this year, Giles were positioned third in the Buyout Track 100 league table in recognition of having the 3rd fastest-growing profits of all UK private-equity backed companies over the previous two years.

The Profit Track 100 league table ranks Britain's fastest-growing private companies by average profit growth over the last three years. During this period Giles’ profits have risen 103% from an annualised £630,000 in 2004 to £5.2m in 2007.

"This achievement recognises the significant growth experienced by Giles over the past few years as the business has grown both organically and through acquisitions," the company said. In 2008, Giles completed 22 acquisitions and said it "continues to consider further acquisitions of top quality regional insurance brokers."

Chris Giles, chief executive of Giles said: “This is an excellent achievement for Giles to be recognised as one of Britain’s best performing private companies. I am very proud of our growth record which is a testament to the commitment of all our staff.

"Our goal remains to take a lead in consolidating the broking industry and we are working hard to develop the business further in the current market environment.”

Also on the list, Towergate was in 67th place with profit growth of 58% and software firm SSP finished in 79th position after recording 55% growth in profits.