George P Johnson reports turnover and profit drop

Turnover fell almost 25% at George P Johnson UK in 2013, following its success at the London 2012 Olympics.

George P Johnson reports turnover and profit drop
George P Johnson reports turnover and profit drop

Experiential events agency George P Johnson has reported a 24.5% fall in turnover for 2013, compared to 2012 when turnover rose 47.7%.

The company's gross margin decreased slightly, from 13.1% in 2012 to 11% last year.

The decrease in profit and turnover was primarily a result of a rise in event activity during the London 2012 Olympic Games, which was not replaced in 2013.

Kevin Jackson, EMEA VP of sales and marketing at George P Johnson, told C&IT: "2012 was an amazing year. We worked flat-out and learnt so much. We took the opportunity in a slightly quieter time in 2013 to use the skills we learned to secure five new contracts with Samsung, Sibos, Magento, VMWare and Fitbit."

The agency's UK results also revealed that profit after tax fell 91%, from £911,341 in 2012 to £81,553.

Gross profit fell 36%, from £4.5m to £2.8m, while operating profit decreased 82%, from £1.2m to £211,173.

The report stated: "The decrease in activity was primarily as the result of the 2012 Olympic Games where the company was involved in organising a number of large events, and this was not replaced in 2013."

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