Corporates including BG Group help Zibrant to 9% profit boost

Zibrant has posted a 9% boost in operating profit following investments, new client wins and repeat business from corporates including BG Group.

Corporates including BG Group help Zibrant to 9% profit boost
Corporates including BG Group help Zibrant to 9% profit boost

Operating profit (before amortisation of the Goldserve acquisition) was £1,036,000 in 2012 compared to £952,000 for 2011.

Gross profit decreased by 11% to £9.3m in 2012 but overheads were £1.2m lower as they returned to normal levels after major IT investments in 2011. The net effect was an improvement in operating profit.

Zibrant's year has been busy with Motivcom's Nigel Cooper joining Fay Sharpe, Zibrant’s managing director at the helm following the departure of Chris Parnham to Absolute Corporate Events.

Meanwhile, major pharmaceutical and legal sector wins helped secure the business boost, including three multi-million pound sole supplier contracts in 2012 and some 'significant' wins earlier this year from sectors including luxury brands and print and retail services for venue finding, event management, incentives and production.

Sharpe said: "We invested heavily in IT and our service delivery with the objective that this would deliver efficiencies and would maximise our value proposition. Everyone in the business has strived hard to implement these changes and we are now seeing the benefits coming through.

"We’re confident that 2013 will be another good year underpinned by the cost reductions we have achieved and our revenues being bolstered by major account wins in 2012 and two more in 2013."

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