Better Collective has reported that a strong performance attributed to newly depositing customers (NDC) has significantly contributed to a 97 per cent growth in revenues for the first quarter of 2019.

The affiliate has reported that its revenues for Q1 have jumped from 7,552 tEUR in 2018 up to 14,905 tEUR as of the 31 March. Meanwhile organic revenue growth has also grown significantly, increasing from 41 per cent, up from a rate of one per cent in Q1 2018.

Reported in its highlights for Q1 2019, Better Collective has detailed that its number of NDCs has exceeded 116.000 in the quarter, a growth of 147%. Meanwhile the group has also seen success in its newly established UK and Poland subsidiaries, which have resulted in a growth of local activities and employees.

Jesper Søgaard, CEO of Better Collective, celebrated the most recent results: “I am pleased to report that growth in Q1 was strong compared to the same quarter last year.

“We now see the effect of the strong NDC intake throughout 2018, which even accelerated further to record levels in the first quarter of 2019. Revenue almost doubled including a strong organic growth of 41% and operational earnings tripled compared to the same period in 2018.”

Following on from the closure of Q1, Better Collective has enjoyed a number of successes, including topping the list of EGR Power Affiliates 2019 list for the second consecutive year, as well as taking home the award for Commitment to Compliance at the Global Regulatory Awards.