A meetings and events company is planning redundancies as it puts the final touches to a company restructure.
Grass Roots Meetings and Events has announced plans close its Marlow office and relocate to London and Hampshire.
The company – one of four divisions at Grass Roots Group – posted a gross profit of £14.2m on a turnover of £26m in the latest figures filed at Companies House. The company filed a pre tax loss of £1.4m in 2013, but in the year-ending 31 December 2014 it achieved a pre tax profit of £2.1m.
The division saw a 43% growth in event delivery turnover, to £4.6m, with strategic meetings management turnover rising by 18% and delegate management turnover boosted by 24%.
The headcount grew by a fifth to 184 people.
Des Mclaughlin, divisional director of Grass Roots Meetings & Events, said: “The latest results have been achieved by unifying the division and re-focusing the core of the business. The results of 2013 forced us to metaphorically take some of our own medicine and look at how we can improve things. When I took over at meetings and events in 2013 we began the restructure immediately and the closing of our live production office in Worcester affected profitability. Since then we have essentially unified four separate businesses into one division and overseen a complete turnaround of the finances. There has been a real effort from everyone associated with Grass Roots to make this happen and these results offer real positivity moving forward into 2015.”