Operating profit and turnover up, despite loss for WRG

WRG Worldwide has recorded a £1.7m loss, despite increased turnover and operating profits.

David Sharrock, WRG
David Sharrock, WRG

The company recorded £55.7m turnover for the 2014 financial year and a £501,000 operating profit. WRG attributed the total loss to ‘exceptional items’, including restructuring costs and interest paid on shareholder loans.

"Our 2013-14 accounts show that year-on-year turnover is up, gross profit is up and operating profit is up," said a WRG spokesperson. "We have made an operating profit before exceptional items this year while continuing to invest in the business. "The ‘loss’ shown in our company accounts is after exceptional items and interest on shareholder loans."

The group has now established a Swiss and US operation, as well as strengthening management in Asia. Following the closure of its Qatar office and UK job cuts earlier this year, David Sharrock, CEO of WRG Live said the company had restructured its operations in the Middle East to increase efficiency, whilst maintaining a presence there to continue to deliver for its key global clients.

"The principal risks facing the business continue to centre on the uncertain economic indicators both in the UK and abroad. There are, however, early signs of a more positive economic climate," said Sharrock.

"The group grew rapidly during 2012 on the back of the London Olympics and several large product launches. Management have now focused the company on growing sustainable accounts in a number of sectors, whilst managing job profitability and staff utilisation." 

At the end of 2014, Sharrock told C&IT that he expected significant growth for the WRG in 2015. He said: "We had a strong year last year where we opened offices in the US and in Basel and grew in size by 30%. In 2015, we are targeting 20% growth and to take our staff numbers to more than 200 people in the UK."

In May, Shell appointed WRG to design and deliver its Global Commercial Competition 2015 as part of a three-year contract.

More:

WRG launches academic partnership with Ashdown Academy

Top 50 Agencies 2015: WRG Creative Communication (8)

• For more breaking news and in-depth features, sign up to C&IT Magazine's daily Newstracker here

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Helicopters over Hawai'i - the best venues, hotels and activities

Helicopters over Hawai'i - the best venues, hotels and activities

A six-day account of aerial adventures across Kaua'i, O'ahu and Hawai'i in A Diary of a Delegate.

TRO appoints two experiential specialists

TRO appoints two experiential specialists

Agency welcomes Sulmaan Ahmad as head of strategy and Simon Patel as creative director.

'Push the boundaries - if someone says something can't be done, I'll find a solution'

'Push the boundaries - if someone says something can't be done, I'll find a solution'

A-List 2019: Matt Culverhouse, chief executive of TEN6 Creative.

In pictures: IMEX 2019

In pictures: IMEX 2019

The annual industry gathering took place from 21-23 May at Messe Frankfurt in Germany.

TEN6 Creative brings in new client services director

TEN6 Creative brings in new client services director

Oliver Morgan joins agency after 10 years with Gold Key Media and will be 'instrumental' to continued growth.

'To hear Michelle Obama say we'd done a great job and get a hug was incredible'

'To hear Michelle Obama say we'd done a great job and get a hug was incredible'

A-List 2019: Kylie Davies, account director & general manager, emc3.

Behind the glitz at award ceremonies

Behind the glitz at award ceremonies

UKSV's Neil Coombes takes us through the planning and setup process for the AA Hospitality Awards

First New York location for etc.venues

First New York location for etc.venues

Venue specialist also adds Chancery Lane location to its London portfolio, with both to open later this year.

Case study: Lenovo Connect

Case study: Lenovo Connect

The technology giant's two-day event for 450 guests took place in London, organised by Jack Morton Worldwide.

Two new recruits for Sleek Events

Two new recruits for Sleek Events

Agency also plans fundraising sports day this summer for its new charity partner Meeting Needs.

LATEST JOBS