BI WORLDWIDE announces 43% rise in profit

BI WORLDWIDE has reported a 43% rise in profit before tax and a 16% rise in operating profit, marking a sixth successive year of growth for the agency.

BI WORLDWIDE managing director Mike Davies
BI WORLDWIDE managing director Mike Davies

Profit before tax was up by 43% in the twelve months to 30 June 2016, from £2.5m in 2015 to £3.6m, while operating profit jumped 16% from £2.4m to £2.8m. Gross profit also increased by 13% from £12.5m to £14.1m, while sales grew from £44.5m to £45.2m.

Mike Davies, managing director, BI WORLDWIDE, said: "It’s a great result and we are delighted with a performance that is very much in line with our expectations and forecasts.


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"We continue to invest in our long-term strategies and our philosophy of building the best culture and environment to enable everyone at BI WORLDWIDE to do their very best work for our clients".

The Milton Keynes-based agency has grown its workforce to more than 230 employees in the last 12 months, as well as investing heavily in new technology and a major office refurbishment.

Following a recent partnership trend among UK event agencies, BI WORLDWIDE bought a neighbouring property and acquired Black and White Consulting, a start-up business in the pre-paid card space.

Davies added: "We continue to be optimistic and have budgeted for small gains in the year ahead, although it is likely to be a very different year. The uncertainty following the Brexit decision created a significant foreign exchange gain, which inflated our PBT number. This is highly unlikely to repeat in 2017.

"Brexit itself is not yet having any impact, although we are exercising caution in the coming months and have already assessed likely risks and opportunities arising from potential changes in economic activity".

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