First Protocol reports turnover and profit increases

First Protocol has hailed a performance increase in both turnover and gross profit, and is predicting further growth this year.

First Protocol's managing director Mark Riches
First Protocol's managing director Mark Riches

In the period from October 2011 to September 2012, the company's UK operation's gross profit was up 12% to £2m, with turnover at £6m up 6%.

First Protocol managing director Mark Riches told C&IT that the company's turnover is largely a reflection of throughput from hotels and venues. He praised the company's 41% increase in net profit, which he said would have been far higher if it was not for expenditure on the New York office and planning for its Asia operation.

"This past year has been a great one, with our MBO taking place, and a knuckling down in performance and strategy. We've suffered a slight UK revenue loss as clients concentrate work on our US operations. The result for our global operation will be great however, and out US operation will triple its net profit this year."

He added that recent wins for the business include a high profile IT client, adding that the appointment of Jack Morton's Kate Sheridan-Hayes would be very significant for the company.

Meanwhile, First Protocol's global turnover was at £14.6m for the year ending September 2012. Its gross profit was up 22% to £5m.

"Our strategy is simple," concluded Riches. "We're recrutiting the best, lookign after our staff and working with the best clients."

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