The Concerto Group reveals 17% sales growth

The Concerto Group has posted sales growth of 17% to £31m and an increase in profit of 18% to £8.4m in 2012.

The Concerto Group reveals 17% sales growth
The Concerto Group reveals 17% sales growth

Chairman Mike Kershaw called 2012 "a year of progress", but said he is cautiously optimistic, despite the continuing economic backdrop, about the outcome for the current financial year.

"We had a great start to 2012 and despite the competitive market place, we still expect to post a profit for the year. We have increased sales by 19% and gross profit by some 12% in the first eight months of this financial year. Our business model continues to deliver high quality, value for money events and should enable us to offer clients what they need in what continues to be challenging times for our industry".

Kershaw continued: "To grow sales by 17% against the economic backdrop, while investing behind our team in readiness for the London’s Olympics in 2012, is a really creditable performance. I am delighted by the progress made."

Concerto Group's other key results:

  • Gross margin as percentage of turnover – 26.9%
  • Profit before tax and exceptional items increased by £114,000 from £475,000 to £589,000
  • Profit is before exceptional items of £190,000. After such items, underlying profit before tax increased to £393,628.
  • Shareholders’ funds at  £1.6m
  • Cash-flow from operations (EBITDA) up from £768,000 to £939,000
The Concerto Group's portfolio includes event management brands Concerto Live, Eventwise, Mask and The Ultimate Experience, caterers Create and Touch of Taste, event venues including Delfina, Oxo2, The Conservatory at Painshill Park and at Plaisterers’ Hall, and event services through 50% joint ventures Lola Staffing, Full Circle Performance and Entertainment and Crazy Cow.

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