Citroen among clients boosting Smyle profits more than 500 per cent

Smyle has recorded pre-tax profits of £294,000 in its latest accounts, compared to £46,000 last year.

Smyle records profits up in 2010/11
Smyle records profits up in 2010/11

Smyle’s has seen sales growth of around 20% in the past year with turnover up to £4.8m in its annual accounts from April 2010 to March 2011, from £4.1m the previous year.

Profits are up 539%, from £46,000 to £294,000.

The agency is now forecasting a 25% increase in turnover for the coming year – to £6m – and a £400,000 profit.

Client wins

Wins in IT, telecommunications, retail, automotive, sports/PR and media have helped contribute to the growth, said Smyle managing director Rick Stainton.

Smyle won a five-way pitch to produce Citroen’s triple vehicle launch in November 2010.

Meanwhile, the IT/telecoms sector has been particularly strong, added Stainton, with around 50% growth taking turnover from that sector to around £1.7m.

"[IT/telecoms] is a very fast-moving, dynamic industry," he said.

Headcount

The agency has also increased headcount from 16 to 24 in the past year, with additions in its media, event management and technical and production departments.

"We have also made internal processes more efficient and, over the last 18 months, continued to invest in better infrastructure and internal management systems including BS8901, CRM systems and stock management," added Stainton.

"We have also benefited from several relationships maturing beyond an EMEA region to delivering projects in the Far East and the US. With the Olympics next year requiring clients to create an impact that differentiates itself from all the other activity taking place, it’s going to be an exciting next 12 months at Smyle."

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