Banks Sadler kick off 30th celebrations with record-breaking results
- Category: Agency & Association
- Created on Wednesday, 09 May 2012 14:25
Banks Sadler kick off 30th celebrations with record-breaking resultsAs their 30th anniversary celebrations commence, Banks Sadler posted their best figures in their history to date. The group has declared record operating profits of £812k which is an increase of 74% on the previous year.
Leigh Jagger commented “This year’s great results are a direct reflection on the hard work, drive and passion of the Banks Sadler team, not just in the last year, but over the last few challenging years. Despite difficult trading conditions, we have continued to invest heavily in our expansion plans which have helped us to not only retain long-standing accounts but also win some very exciting new global contracts.”
Group turnover also increased significantly by 40% to £38 million and the Group’s gross margin came in at £7.1 million. The other significant improvement for the Group was the increased cash flow generated in the year. Cash funds of over £3.2 million more than doubled the cash position of the previous year.
The board anticipates that the Group will continue to increase profits through into 2012 although Jagger sounded a note of caution. “We are still operating in a cost-conscious environment and seeing many of our clients closely managing their meetings and events spend. It would be naive to think that the economic uncertainty across Europe will not have a knock on effect on the events industry and it is important that we continue to manage our operations accordingly”.
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