W&O reports profit increase

W&O has reported an increase in gross profit in 2012 to £3.4m, when compared to 2011.

W&O commercial director Andrew Gilkerson
W&O commercial director Andrew Gilkerson

Profit before tax for 2012 was £881,000. The completion of a restructure in 2011 and a focus on costs resulted in a slight increase in gross profit. In 2012, the business also opened an office in Dubai to serve the Middle East. 

These financial results follow W&O's announcement last week that it is closing its Yorkshire office as it reorganises the business.

The company has a put a three-year plan in place to deepen existing relationships and expand the customer base within the UK and globally. 

W&O's managing director Sallie Coventry said: "Both revenues and profitability were slightly ahead of target for 2012, and the business is in fantastic shape for continued growth over the next couple of years." 

With regard to 2013, the company has also confirmed that sales for the first half of the year are on budget and prospects for quarters three and four are looking good.

Commercial Director Andrew Gilkerson said: "We have recruited some fantastic new sales people to join our team and we are keen to extend this investment in further recruitment over the coming months."  

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