BI Worldwide delivers 'best' financial performance of last ten years

BI Worldwide has reported a 28.5% year-on-year hike in gross profit to £6.6m and an 18.3% increase in turnover to £19.3m for the year ending June 2011, a performance it describes as its "best in a decade".

BI Worldwide delivers 'best' financial performance of last 10 years
BI Worldwide delivers 'best' financial performance of last 10 years

Operating profit grew to £513,000, up 172% from a loss for the previous year of £706,000.

The events group attributed its performance to factors including a 52% growth in corporate events business; a "sharper focus on sales"; and a "considerable productivity improvement" of 23% - a measure of the ratio between gross profit and overheads.

Mike Davies, BI Worldwide’s managing director, said: "Without doubt, it is the hard work, commitment to quality, and loyalty of the whole team at BI Worldwide that has returned the business to a positive financial position.

"We are conscious that ‘one swallow does not a summer make' and continue to work hard to deliver further growth in the year ahead.

"However, we are pleased with the start we have made and are 7% ahead in the first quarter of the new financial year. We are also delighted that we have been able to give all associates a pay increase and bonus in line with the performance of the business."

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