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US-owned call centre Concentrix sees profits hit by slump

By John Mulgrew

Published 03/08/2016

Philip Cassidy, senior vice president of Concentrix
Philip Cassidy, senior vice president of Concentrix

Belfast call centre giant Concentrix has suffered a drop in turnover and seen profits tumble in the space of a year. Turnover at the US-owned business dropped from £27.7m to £25.5m, in the period to November 2015.

But profits fell more dramatically, dropping from £2m to just under £300,000 for the same period.

Work has just begun on Concentrix’s new office headquarters in Belfast. It’s turning the former Maysfield Leisure Centre into its new European base.

The new base is located a short distance away from its current offices.

The company is expected to continue to grow its workforce over the next couple of years.

According to its latest set of accounts, Concentrix employs a workforce of 1,651. That’s up from 1,445 staff a year earlier.

Late last year a planning row broke out between Concentrix and insurance giant Allstate over the construction of their major new neighbouring office developments in east Belfast.

Concentrix raised a series of objections to Allstate’s plans for a new six-storey headquarters close to the former Maysfield Leisure Centre site.

Concentrix said Allstate’s application was “unacceptable”, with its development plans over-lapping into land “Concentrix has agreed to purchase in our lease agreement”.

But Allstate’s plans got the go-ahead from Belfast City Council, despite the opposition.

Concentrix first set up in Belfast in 2011, after it bought Gem, a Northern Ireland call-centre company co-founded by Philip Cassidy in 2000.

At the time, the firm employed approximately 700 people. Since then, Concentrix has more than doubled that workforce. That is also expected to increase with the company’s new base.

Just last week, Allstate officially broke ground on its new £30m headquarters in Belfast, which will house the firm’s 1,300 staff.

The six-storey building will be based close to Central Station in the city centre, and will create 150 construction jobs over the next two years.

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