Smyle reports £8.24m turnover for 2014

Smyle has reported record gross margins for the 12 months to March 2014, but turnover dropped slightly to £8.24m, in part due to the cancellation of a £2m telco project.

Smyle MD Rick Stainton
Smyle MD Rick Stainton

The live communications agency said gross margins rose to £2.55m, up from £2.4m in 2012-13, while EBITDA for the year to March 2014 was £548,205, compared to £800,000 the previous year.

Smyle managing director Rick Stainton said the reduction in EBITDA represents the investment the agency has made in new talent and processes, including a number of senior appointments across its creative and production teams. "We had a 20-25% increase in new talent, adding a new creative lead and a head of operations," he explained.

Turnover for 2013-14 was £8.24m, compared to £8.6m the previous year. Stainton said a number of new client wins from across the media, telco and financial sectors, plus new business from existing clients helped to partially offset the cancellation of a significant £2m telco project due for delivery at the beginning of 2014.

"I'm proud of the reaction of the team and the flexibilty and resilience they have shown in developing business opportunities," Stainton added.

Last summer, the company celebrated its tenth anniversary, moved to a new London base and launched a three-year business plan aimed at doubling the size of the business.

"We're focusing more on relationship building and have invested in talent focused on client services and creative, rather than just being delivery focused," said Stainton. "We're also focusing on partnerships in the travel and experiential areas and our UKTI Taskforce membership, and are still looking at potential acquisitions."

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
London venues hosted 37% more events in 2018

London venues hosted 37% more events in 2018

Year-on-year increase from Unique Venues of London shows strong demand for events in the capital.

Why you should design human-centric experiences

Why you should design human-centric experiences

At EMEC19 in The Hague, Kim Myhre of MCI Experience gave an insightful talk on design-thinking in events.

New event producer for HGA

New event producer for HGA

Becky Jones-Williams has previously worked at Event Concept and will work for clients in a range of sectors.

Stagestruck adds event producer to team

Stagestruck adds event producer to team

Sarah Saward is joining the business as a group account director, with responsibility for a portfolio of blue-chip clients.

Incentive review: Club Med Plantation d'Albion

Incentive review: Club Med Plantation d'Albion

With dinner and champagne on a paradise beach, the white sands and the turquoise coral sea ocean of Mauritius are hard to beat.

Premier Events acquires Collective Minds

Premier Events acquires Collective Minds

Acquisition of Leicester-based events agency is part of growth plan to reach £5m turnover and 50 staff.

3 reasons to run wellness incentives

3 reasons to run wellness incentives

Endellion King, incentives account director at Top Banana, makes the business case for incorporating wellness into incentives.

'Procurement and events teams work best when they swap notes'

'Procurement and events teams work best when they swap notes'

Global procurement director of Knect365 Hetal Dassani talks to C&IT about how planners can build bridges for better buying.

ILEA members reveal 'shock' over Fyre Festival failings

ILEA members reveal 'shock' over Fyre Festival failings

Members of the International Live Events Association (ILEA) give their verdict on the event planning disaster of 2017, the Fyre Festival.

Case study: MAN's Apprentice of the Year Awards

Case study: MAN's Apprentice of the Year Awards

Venues and Events International organised an awards ceremony at Liverpool Football Club.

LATEST JOBS