Banks Sadler operating profits rise 19%
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Events management agency Banks Sadler has announced a big climb in operating profits for 2009 despite turnover falling from £25m to £23m.
Commenting on a 19 per cent hike in the operating profit, the agency’s CEO, Leigh Jagger, said: "This was in line with expectations and reflects the ongoing strength of our position in a very tough economic environment. If not for some large short notice cancellations early last year, when things were at their very worst, we would have expected to show far better figures than 2008.
“However, with a number of good account wins in 2009, our share of a very cost conscious market is still growing which, alongside our overseas expansion, puts us in good shape once the recovery really starts.”
Working closely with clients to add value and keep costs under control was fundamental, said Jagger. “Looking ahead we anticipate that trading conditions will remain difficult in the meetings and events sector but we are nevertheless optimistic for 2010 as we have already seen a substantial increase in confirmed events and enquiries year on year."
16 July 10
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