George P Johnson sees 5.3% drop in gross profit despite turnover rise

Agency George P Johnson has reported a 5.3% fall in gross profit for 2014, despite a 12% increase in turnover.

George P Johnson's Jason Megson
George P Johnson's Jason Megson

According to a report filed at Companies House, George P Johnson achieved a gross profit of £2,732,696 for the year ending 31 December 2014, which was a fall of 5.3% from £2,885,794 in the 2013 financial year.

However, the agency’s turnover grew by 12% to £29,295,541, up from £26,114,499 in 2013.

The director’s report cites that the decrease in the company’s gross margin was due to 'strong competition in the market'. It also states that the principal risks facing the company include 'the uncertain economic climate which is affecting customers'. 

The profit for the year after taxation amounted to £147,000, an 80% rise on 2013 (£81,553).

Jason Megson, MD at GPJ, said: "2014 was a consolidation year for the business in what was an uncertain period for both the industry and economy as a whole. However, our prudence and persistence has paid off, delivering a strong 2015, and hence we start this year brimming with confidence and armed with a line-up of creative, strategic and experience delivery talent that is second to none." 

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