Absolute Corporate Events records 78% gross profit increase

Absolute Corporate Events recorded a gross profit of £482,046 in 2014, a 78% rise from the previous year's figure of £270,000.

Chris Parnham of Absolute Corporate Events
Chris Parnham of Absolute Corporate Events

Turnover, taking account of all venue find spend and event fees, was £4m for 2014, up 40% from the £2.8m recorded in 2013.

According to managing director Chris Parnham, turnover and profits have increased through a combination of existing business and new client wins.

"Gross profit is increasing faster than turnover as the business mix includes more fee-based services like event management, live event production, international incentives and creative content development," he explained.

The company has expanded its team in recent months, with the appointment of Jacquie Freer from Zibrant, who joined this year as sales and commercial director, and Claire Okrafo-Smart, who joined as account director, also from Zibrant, to focus on international events and incentives. Parnham added that the agency is currently interviewing for two more posts to strengthen the operational team.

"2014 was my first full year as MD and owner of ACE, after taking over in June 2013. I am extremely proud that, as a team, we have exceeded all our targets, achieving the biggest growth spike in the company’s 25-year history," he said.  "We have retained all of our long-standing clients, and we are doing more for them. Our newer clients are benefitting from a full end-to-end service beginning with creative concept development, through event management and production."

More than 50% of the agency’s event turnover is now outside the UK, with large events delivered in Barcelona, Philadelphia, Miami, Copenhagen, Cannes, Venice, Marrakech, Malta and Paris. 

More:

Opinion: Leaders must set an example, says Chris Parnham

Exclusive: Zibrant's Okrafo-Smart joins Absolute Corporate Events

Top 50 Agencies 2015: Absolute Corporate Events (48)

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