Chillisauce sees drop in profit on higher turnover

Agency Chillisauce has said it is on track to record a £19m turnover next year, following a £280,000 profit loss due to one-off payments for the year ending September 2015.

Chillisauce's James Diment
Chillisauce's James Diment

The agency recorded a turnover of £17.2m for the 2015 finanical year, an increase from the £16.7m reported in 2014. Meanwhile, earnings before interest, taxes, depreciation and amortisation (EBITDA) were recorded at £470k. A one off write down of some capitalised technology costs contributed to a £280k loss before tax.

The company also announced that it has seen strong growth across its divisions, with an increase in bookings on both the consumer and corporate sides of the business. The biggest area of growth for the company overall has been in overseas events, with a 30% increase in bookings year-on-year. The agency is also reporting a 4% increase in growth within its corporate events division, despite the challenges to the meetings and events industry caused by uncertainty surrounding ‘Brexit’. 

James Diment, head of corporate at Chillisauce, said: "It’s encouraging that the uncertainty over Brexit hasn’t had any major negative effects on our day to day business so far. The majority of clients still feel confident about investing in their people and their events. Keeping teams motivated and focused during potentially difficult times is crucial."

Matt Hull, commercial director at Chillisauce, added: "Our plan is to become the go-to place for group events, which will require commitment and investment. In order to progress towards this goal, we have been looking for ways to streamline the business over the past couple of years to increase our online capabilities and efficiency.

"A huge focus for the company has been to make a significant investment in the development of our front and back-end systems in order to achieve this. The directors believe that this investment in technology will form a platform from which the business can scale up and increase profitability. With our turnover target of £19m on track, the company will see a healthy return to profit in 2016."

The agency has witnessed heavy investment in the past year, with considerable growth in the corporate team. At the end of 2014, Chillisauce moved its offices to London Bridge, following a major recruitment drive. 

More:

Chillisauce announces eight new senior hires amid recruitment boost 

Chillisauce to recruit 25 new staff in biggest ever expansion 

Chillisauce sees 25% growth in corporate bookings

• For more breaking news and in-depth features, 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
World's most 'in-demand' event destinations for 2019 revealed

World's most 'in-demand' event destinations for 2019 revealed

Spain, Thailand and China top the list for event planners, with growing interest in Peru and European destinations, according to Pacific World.

Why are there 'more women' in the events industry?

Why are there 'more women' in the events industry?

Heléna Vella, head of Incentive travel at SevenEvents, discusses why diversity in the events industry remains a challenge.

Why 'edutainment' means more engaged delegates

Why 'edutainment' means more engaged delegates

Personal development expert Ross McWilliam examines ways of helping delegates get more from conferences.

In pictures: Great Agency Bake Off 2019

In pictures: Great Agency Bake Off 2019

Excel London hosted the annual GABO event, putting agencies baking skills to the test.

World's largest rooftop urban farm opening in Paris in 2020

World's largest rooftop urban farm opening in Paris in 2020

Farm on roof of Paris Expo Porte de Versailles exhibition complex will offer event space and team-building activities.

What now for visas, biometrics and the future of travel?

What now for visas, biometrics and the future of travel?

Applying for visas can be slow, painful and confusing - but is it about to get worse or can tech help make it easier?

Nic Cooper leaves Sledge

Nic Cooper leaves Sledge

Cooper led the agency from its beginnings in 1991 and will continue with other roles in events industry.

A-List alumni: 'Being a working mum is the biggest challenge'

A-List alumni: 'Being a working mum is the biggest challenge'

Connie Jones is regional operations manager at FIRST and was an A-Lister in 2013.

Should you be using influencers to market events?

Should you be using influencers to market events?

We can learn a lot from Fyre Festival about using social media influencers, says OrangeDoor's Elizabeth Heron.

Tata Steel's colourful conferences

Tata Steel's colourful conferences

Lindsay Andrews, regional business development manager, talks about the challenges of Tata Steel's Colorcoat events.

LATEST JOBS