The £26m drop from £78.9m was attributed to the fact that 2014 saw a series of one-off events, including the ceremonies for the Commonwealth Games. According to the director’s report filed at Companies House, this year the figure was more in line with expectations.
While turnover decreased to 'more normal levels', the company also recorded a drop in pre-tax profit, from £3.5m in 2014 to £1.7m in 2015.
The majority of this year’s revenue was taken from brand consultancy, design and creation, events, conferences, roadshows and exhibitions. During the course of the year, the focus was on growing revenue and client base, which was successfully achieved.
According to the report, 2016 is likely to be a challenging year, due to changes in the marketplace and uncertainty surrounding the Brexit referendum result.
Staff numbers fell from 100 in 2014 to 78 in 2015, while revenue margin increased by three percentage points to 22.4%. However, the 2014 headcount and results also included the agency's Dubai office, which has since become a separate entity registered in the UAE.
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