Smyle forecasts 44% profit increase

Smyle has forecast a 44% increase in profit before tax and depreciation to £502,000 for the financial year ending March 2012.

Smyle forecasts 44% profit surge
Smyle forecasts 44% profit surge

The agency has also experienced a 22% increase in turnover to £5.9m for the financial year ending March 2012, according to managing director Rick Stainton.

The full accounts are expected to be filed at Companies House next week, he added.

New account wins in the automotive, media and IT sectors, as well as enhancing relationships with existing clients, have helped drive the growth, added Stainton.

The agency also attributes 25% of the increase to operational efficiencies and sustainable initiatives introduced in 2010 through its adoption of the BS8901 management system.

Meanwhile, Smyle is also forecasting a 60% profit increase for the accounts period ending March 2013 to more than £800,000, from a turnover increase of 15% to £6.8m.

"As we enter our 10th anniversary year, we will continue to focus on a broad client base, clear services differentiation and a personable team that create creative and competitive solutions." said Stainton.

The agency has recently launched the new Sustainable Events Summit in partnership with agency Sustainable Events, which will be held in January at the Siemens Crystal venue.

Smyle´s strategic director David Hornby added: "We are following our ambitious five-year growth plan closely through difficult economic times, but we are conscious of managing the growth effectively so as to continue providing excellence across all projects and strengthening our client relationships – compromising on either is never an option."

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