£1m operating profit for Smyle, as group investments pay off

Live experience agency Smyle Group is reporting its growth plans remain on track and says the recently completed 2015-16 financial year has delivered the group £14.4m in combined turnover. The figure represents a jump up from £10.54m last year.

The group said its internal and external investments over the past 18 months were paying off, with a £1m operating profit posted across Smyle and its recent acquisition of Pumphouse Productions.

Staff numbers are up 25% the group reported, the increased numbers helping to deliver a record number of live and digital experiences.

Rick Stainton, Smyle Group’s MD said: “Four months ago we conservatively predicted a healthy growth to around £12m turnover for the year, so to get to over £14m is a testament to our team’s focus on clients, how they look after them and their focus on long term strategic partnerships. We have compromised our profit over the last year or so through a number of investments and it is very pleasing to see them starting to translate through into the group’s strong performance as a whole.”

On future plans and the coming year, Stainton added: “We will continue to work on supporting our new and existing relationships and do not have any desire to push for the same surge in growth for the coming year. We will aim to further simplify our processes whilst refining our skillset and available in-house resources for the maximum benefit of our clients – if that produces further growth then that will be an added bonus.”

Paul Colston

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Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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