Lodestar predicts 2012 upturn from clients including Philips Lighting

Lodestar's turnover and gross profit fell in 2011 compared to 2010, but managing director Phil Watton says focus on clients including Philips Lighting is boosting 2012.

Lodestar suffers slump but predicts 2012 upturn from clients including Philips
Lodestar suffers slump but predicts 2012 upturn from clients including Philips

Lodestar's turnover for 2011 was £3.17m, down from £4.67m in 2010. Gross profit was at £657,369, down from £995,305 in 2010.

Watton labelled 2011 a year of consolidation, adding: "Many client budgets are still under pressure and margins still tight but we focused on growing new relationships with clients such as RSA, Honeywell and AEG at the O2. Also we have spent time organically growing existing accounts such as Philips Lighting, Philips Healthcare and Sony Mobile." 

The company is also hoping for success after purchasing Bang Media in July - a move that bought clients including House of Fraser and Lexus Nexus.
 
"Much of the business development work done in 2011 is bearing fruit in 2012 –  a good year to date and extremely busy end to the year forecast," added Watton.

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