Grass Roots records 2.5% profit drop on turnover rise

Grass Roots has reported a turnover rise to £283m for the 2015 financial year, while pre-tax profits dropped slightly to £7.8m.

The group, which includes Grass Roots Meetings & Events, recorded a 9.7% increase in turnover for the financial year ending December 2015, up from the previous year’s £258m, but overall profit dipped slightly by 2.5% from 2014’s £8m.

According to the global financial report, published on Companies House, the UK remained one of the strongest regions, and biggest profit generator for the group.

"The APAC region overall was loss-making, but nonetheless continues to be a key focus for our growth plans in the coming years," the report stated.

The company incurred one-off losses due to the over-redemption of a consumer promotion in Europe. otherwise, the group operating profit for 2015 would have been £1m higher at £8.5m, compared to the previous to the year.

More:

Grass Roots hires project director from George P Johnson

David Taylor appointed as MD for Grass Roots Meetings & Events

President Barry Richards leaves Grass Roots Meetings & Events

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