Grass Roots back in profit after loss-making 2010

Grass Roots has reported a group operating profit of £4.1m for the year ending December 2011, after reporting an operating loss of £1.5m for its previous annual accounts.

Grass Roots in £4.1m operating profit
Grass Roots in £4.1m operating profit

Chairman and chief executive David Evans described the group’s performance as "a step back into the light of improving performance".

The group recorded a turnover of £300m, gross profit of £72m and earnings before tax (EBITA) of £6.9m. Its last set of results, which were for the 18 months to 31 December 2010, saw the group report a turnover of £424.m, gross profit of £96.9m and EBITA £1.8m.

Evans said: "We have continued to invest in people and service product with our latest effort being the deployment with clients of the new ‘inspire’ generation of cloud-based applications in reward recognition and other vital connectivity needs."

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