TFI Group reports stable financial figures in "difficult economic climate"

TFI Group has seen a 6% increase in turnover in its annual accounts to the end of December 2011, while profit after tax has dipped slightly.

TFI Group has steady 2011
TFI Group has steady 2011

In his director's report to the annual accounts – filed at Companies House – chairman Peter Franks said the company has "continued to perform strongly, despite the difficult economic climate".

However, he added that the "directors are expecting 2012 to be another challenging year".

For the year ending December 2011, turnover was up to £9,480,777 from £8,905,043 the previous year – an increase of 6.46%.

Gross profit dipped to £1,724,414 from 1,737,056, and the business closed the year with profit after tax of £277,095, a small downturn of 1.28%.

Staff headcount rose, however, from 21 to 25, and TFI Group business development director Simon Maier said the team would be growing further this year. Three team members have joined this week, he added, with a further two to come.

In addition, the agency is planning to open offices in Singapore and the US in 2013.

Maier added: "The market has been much more stable than everyone thought, but the pharma market is tough. It is very procurement driven, and margins are much lower."

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Inspirational Venues & Events hires operational director

Inspirational Venues & Events hires operational director

Inspirational Venues & Events has appointed Amina Bentamoune as operations director.

How to exceed expectations rather than budgets

How to exceed expectations rather than budgets

'The element of surprise costs no more than the predictable,' says Steve Pinnock of Performance and Event Management.

Hotels of Abu Dhabi

Hotels of Abu Dhabi

The Middle Eastern destination offers the ultimate in luxury, with sandy resorts by the sea, spacious meeting rooms and sumptuous dining.

Sleek Events hires new commercial director

Sleek Events hires new commercial director

Boutique events agency adds a new top-level member of staff following 'exponential growth' since 2015.

World's most 'in-demand' event destinations for 2019 revealed

World's most 'in-demand' event destinations for 2019 revealed

Spain, Thailand and China top the list for event planners, with growing interest in Peru and European destinations, according to Pacific World.

Why are there 'more women' in the events industry?

Why are there 'more women' in the events industry?

Heléna Vella, head of incentive travel at SevenEvents, discusses why diversity in the events industry remains a challenge.

Why 'edutainment' means more engaged delegates

Why 'edutainment' means more engaged delegates

Personal development expert Ross McWilliam examines ways of helping delegates get more from conferences.

In pictures: Great Agency Bake Off 2019

In pictures: Great Agency Bake Off 2019

Excel London hosted the annual GABO event, putting agencies baking skills to the test.

World's largest rooftop urban farm opening in Paris in 2020

World's largest rooftop urban farm opening in Paris in 2020

Farm on roof of Paris Expo Porte de Versailles exhibition complex will offer event space and team-building activities.

What now for visas, biometrics and the future of travel?

What now for visas, biometrics and the future of travel?

Applying for visas can be slow, painful and confusing - but is it about to get worse or can tech help make it easier?

LATEST JOBS