Grass Roots records 17% increase in pre-tax profit

Events agency Grass Roots has recorded a 2014 profit of £9.3m before tax and goodwill, a £1.4m increase on the previous year.

Richard Bandell, Grass Roots
Richard Bandell, Grass Roots

Operating profits, after amortisation of goodwill and depreciation, were recorded at £6.8m.

Although the UK market continued to deliver the most significant profit for the organisation, growth within the overseas market also contributed to the boost. Consolidation was a key focus for Grass Roots throughout 2014, and the company successfully secured several long-term client contracts during the year.

Richard Bandell, CEO for Grass Roots, said the results of 2014 represented the company’s first step towards achieving its ambitious vision: "2015 sees us entering an investment phase and we are focusing on doing business better, ensuring we have the best products and getting ready to expand our global reach." He added that the achievements could be attributed to the passion of professionalism of its employees and the continued trust of loyal clients. 

Earlier this year, Grass Roots announced significant changes to its executive leadership team in order to 'achieve the agency's ambitious growth plans', as well as the appointment of Simon Mitchell as global accounts director and former BI Worldwide director David Battley as account director.

In April, Grass Roots expanded its international presence with the opening of a new office in Barcelona to capitalise on the FMCG, pharmaceutical, financial and professional services organisations in the Spanish city.

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