Banks Sadler celebrates 30 years with 74% growth in operating profit

Banks Sadler has announced a 2011 operating profit of £821,000, a hike of 74% compared with the previous year - its best figures to date.

Banks Sadler's operating profit up 74%
Banks Sadler's operating profit up 74%

The agency, which is celebrating its 30th anniversary, said group turnover was up 40% to £38m, with a gross margin of £7.1m; while cash-flow more than doubled to £3.2m.

Chief executive Leigh Jagger attributed the performance to factors including strong client retention and new business wins: "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," she said.

"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."

The Banks Sadler board said it forecasts continuing profit growth in 2012, although Jagger added that economic uncertainties would have a knock-on effect on the events industry.

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