A surge in corporate events business has helped power incentives, travel and events agency BI Worldwide’s best year in a decade, with turnover, profit and productivity all showing improvement, according to the company’s latest audited accounts.
Highlights from the newly filed accounts from the Milton Keynes based agency include:
- Turnover up by 18.3% to £19.324m
- Gross profit up by 28.5% to £6.603m.
- Overall operating profit improved 172%, rising to £513k from last year’s loss of £706k.
The company claims key contributors to the overall business performance were a renewed focus on core deliverables of events and performance improvement . BI Worldwide’s corporate events business grew 52 per cent over the previous year’s figure.
Productivity improved 23 per cent, as measured by the ratio between gross profit and overheads.
MD Mike Davies, said hard work and a commitment to quality had returned the business to a positive financial position.
“We are conscious that one swallow does not a summer make and continue to work hard to deliver further growth in the year ahead. However, we are pleased with the start we have made and are seven per cent ahead in the first quarter of the new financial year. We are also delighted that we have been able to give all associates a pay increase and bonus in line with the performance of the business.”
The company is part of the $400m, US-based firm Schoeneckers and employs more than 1,000 associates throughout North America, Europe, the Middle East, Asia, and Australia.
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