Banks Sadler announces 13% jump in profits

Global event management company, Banks Sadler has announced improved operating profits for a fifth consecutive year. The agency says its operating profits grew by 13% from £1.251m to just over £1.413m, on a rising (40%) group turnover of £40m.
 
Group CEO Leigh Jagger, said: “The growth in our turnover reflects a busy year on the event management front, not just in the UK but across all our global offices, coupled with the continuing growth in demand for our creative production and event technology services.”
 
2014 saw Banks Sadler win some new global accounts as well as retain and grow some of their long standing clients across into new markets with an expanded portfolio of services.

“We are all very excited that the doors to our newest office in Shanghai will formally open in June. We’ve been working hard on getting the infrastructure in place and the team from the Shanghai office have been in London since Christmas training,” Jagger added.
 
Jagger also injected a note of caution, noting that some key clients had gone through major merger and acquisition activity, while others have implemented global restructuring programmes. “We are already seeing a slowdown in demand from these clients whilst the dust settles,” she said, adding: “With the general election now looming, there is a lot of uncertainty out in the market and only time will tell how things will play out over the remainder of the year. We have a great team and solid foundations in place, so we are confident that, all things being equal, we can continue our upward growth trend into 2016 and beyond.”      
 
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Paul Colston

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Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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