Smyle Group turnover up 52% following acquisition

The Smyle Group recorded a £10.54m turnover and a £22k operating profit for the 2014-15 financial year, following the acquisition of Pumphouse Productions and other one-off costs.

Smyle's managing director Rick Stainton
Smyle's managing director Rick Stainton

Smyle and Pumphouse Productions saw a 52% rise in turnover from April 2014 to April 2015, in line with predictions made in September. The smaller £22k operating profit was attributed to ‘major one-off costs’ including the acquisition of Pumphouse Productions earlier this year, the set up of a larger London office and a 20% boost to staff numbers. According to manging director Rick Stainton, the turnover is expected to rise to £12m by the end of the current finanaical year.

In addition to developing relationships with existing clients, the group has gained new key customers across the media, telco and financial sectors including Google, HP and EY.

"These figures demonstrate the bridge we have crossed in growing up as a business – a number of key one off exceptional items have compromised our profit in the short term, but we are now seeing great momentum as a result of these various investments," he said. "They are all designed to support our awesome team in delivering on our clients’ objectives, help them be better in the services they offer and enhance our reputation for producing creative winning ideas."

More:

David Hornby leaves Smyle after five years

Top 50 Agencies: Smyle (21)

Agency Lowdown: Smyle stable grows with Pumphouse deal

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