Despite a rise in gross margin, the agency’s net profit fell to £580k in 2014, compared to £3.9m in 2013, due to increasing staff costs and general expenses. The company made five strategic acquisitions in 2014 and opened new offices in Turkey and Chile.
MCI’s Meetings & Events practice generated 36% of its business in 2014, closely followed by its Professional Congress Organisation (PCO), which generated 29%. The agency organised 2866 events and 588 congresses in 67 different countries, and recorded a turnover of £252m.
MCI has also predicted a ‘promising’ 2015, with its Annual Report forecasting ‘double digit growth’ and a gross margin of more than £110m.
The Annual Report stated: "Our gross margin growth was divided between organic and acquisition growth, which accounted for 3% and 2% respectively.
"Our client portfolio remained well balanced between corporate clients and association clients, and in 2014 we continued to help clients from a diverse range of industries, with the highest percentage of clients working in the healthcare sector."
Sebastien Tondeur, MCI Group’s CEO, said: "In 2014, we continued to deliver inspiring meetings and events, but we found that our true value shifted. Our experts no longer started conversations by asking clients what events they would like us to deliver. Instead, they continually challenged clients to improve all aspects of their live communications. Looking back, it’s clear that we’ve moved from delivering capabilities to building possibilities for our clients."
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