Global event management agency, Banks Sadler, has announced an 18 per cent increase in operating profits to £1,251m, despite turnover dropping by just under two per cent. The figure follows a 30 per cent rise in profits in 2012.
Profits after tax for 2013 rose by 31 per cent on 2012.
Leigh Jagger (pictured), the Group’s CEO, said: “We are absolutely delighted to have delivered such a strong performance despite trading conditions still being quite challenging across all of our key markets. To be able to achieve such positive results, while continuing to invest in growing our portfolio of services and network of offices, is real testimony to the committed and hard-working team we have across our whole group.”
Banks Sadler’s overseas operations continue to contribute and many of the new client wins over the last 12 months have been secured on the agency’s ability to deliver globally.
A new office will be opening later this year, as the agency continues to expand its portfolio of services.
Banks Sadler acquired MPI (Medical Projects International) in February 2013 to enhance its pharmaceutical and healthcare offering. This investment, the agency claims, is paying dividends.
Jagger is not complacent, however. “Although we are all hearing talk of economic optimism, we are certainly not seeing that cascade straight through to the meetings and events area. Budgets are still tight, value for money is important to our clients, and being able to demonstrate ROI on meetings and events as well as the service we offer is crucial,” she said.
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