Banks Sadler reports profit and turnover growth

Banks Sadler's operating profits increased by 30% to £1.06m for the year ended 31 October 2012 compared to the previous year.

Leigh Jagger: Banks Sadler reports profit and turnover growth
Leigh Jagger: Banks Sadler reports profit and turnover growth
The global event management agency’s turnover rose by 4% for the same period, with overall gross profits increasing by nearly 14%.

Account wins, existing accounts coming to fruition and retention of key accounts were cited as some of the reasons for growth.

Banks Sadler chief executive Leigh Jagger said: "I’m delighted we have delivered these results while also making significant service upgrades in both our new technology offering and the opening of our New York office."

However, she added: "Over the last 12 months some of our contracted clients have become even more focussed on reducing external meeting spend.  We have already seen this result in a substantial reduction in UK spend in 2013 and this certainly looks set to be a trend that may continue. We are anticipating tough trading conditions for some time to come."

The news comes after Banks Sadler  acquired Medical Projects International (MPI), the Windsor-based event and communications agency, for an undisclosed sum, earlier this month.

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