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

• For more breaking news, as well as in-depth features and case studies, 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
What will be the top destinations for events and incentives in 2020?

What will be the top destinations for events and incentives in 2020?

Global DMC Partners reveals 2019 destination rankings as well as its hotlist for next year.

Avantgarde London hires creative duo

Avantgarde London hires creative duo

The agency's new creative team has worked with clients including BMW, Oreo, Visa and HSBC.

Case study: Mercedes-Benz Vans roadshow

Case study: Mercedes-Benz Vans roadshow

Immersive roadshow uses an expanding, custom-built trailer to house VR, AR and MR experiences.

Hire Space Awards 2019 winners: The full list

Hire Space Awards 2019 winners: The full list

Comedian Robin Morgan led the ceremony at the National Gallery recognising the UK's best venues and event organisers.

15 entertainment ideas for corporate events

15 entertainment ideas for corporate events

All ideas should be sensory, memorable and participatory, says Mauri Gomez of Eventos Barcelona.

LinkedIn launches face-to-face meetings tool

LinkedIn launches face-to-face meetings tool

Online networking platform's event-organising feature marks its first step into the physical meetings market.

Why wellness isn't just for delegates

Why wellness isn't just for delegates

From taking time to see the sights to apps that help your sleep patterns, Top Banana's Ian Cooke has some wellbeing tips.

7 lessons for event planners from... Brexit

7 lessons for event planners from... Brexit

We asked industry figures what the Brexit process has taught them about planning and executing big events.

Inntel hires new head of business travel

Inntel hires new head of business travel

Senior appointment will manage business travel operations teams and mentor the agency's business travel consultants.

5 ways to bounce back from travel sickness

5 ways to bounce back from travel sickness

Wellness expert John Ayo shares his health tips to make sure you and your event don't have to suffer.

LATEST JOBS