CI Group records level turnover as net profit falls

CI Group's gross profit and turnover have remained static, while net profit dropped 23%, following a widespread investment programme.

CI Group's David Watt
CI Group's David Watt

The agency maintained a gross profit of £1.7m for the 2014 financial year and a turnover of £4.9m, after increasing its spend on facilities, technology and staff.

Group CEO David Watt said: "2014 was a fantastic year for CI Group and Corporate Innovations. We invested in new technologies and increased and upskilled our team, resulting in higher client satisfaction and significant new business wins."

The agency is due to continue its expansion plans, after acquiring Covent Garden design studio Ellipsis in 2015, in line with its goals to reach a gross profit of £3m in three years.

"We’ve bought our own freehold town centre head office (in Bambury), doubling our footprint from 3,500 to 7,000 square feet and continued to invest in new technologies. It’s been an exciting time of growth and development making strategic investments ahead of the curve and, whilst taking a small reduction in EBIT, we’ve maintained the other key metrics that will keep us on track towards our three year target of £3m gross profitability."

More:

AddingValue sees 33% rise in pre-tax profit 

BI Worldwide aims for 10% profit growth in 2016

Reed & Mackay sees 28% rise in pre-tax profit

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