Motivcom gross profit up 9%

Motivcom has boosted gross profit by 9% to £14.1m in the first half of 2011.

Motivcom's Nigel Cooper
Motivcom's Nigel Cooper

The group, which today announced its results for the six months ending 30 June 2011, said that after 2010’s 40% gross profit growth, it has focused this year on "consolidating its market position".

After accounting for investment in its business, tallied with changes to some of its clients' events timings, profit before tax for the period was £1.5m.

Motivcom, which owns events firms Zibrant, P&MM and AYMTM and is headed up by executive director of events and communications Nigel Cooper, has invested in IT, its premises and infrastructure.

Net cash and assets both improved, with the former at £7.2m and the latter up to £20.9m. The group’s board agreed to boost its interim shareholder dividend by 15%.

This April, Motivcom posted a 40% growth in gross profit in 2010 and an increase of 70% in headline operating profit for the division, as incentive travel enquiries grow.

In the year ending 31 December 2010, Motivcom group as a whole reported a 22% increase in gross profit from £21.06m to £27.7m and a 24% increase in headline operating profit from £3.62m to £4.76m.

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