Turnover decreased from £17.4 million to £12.3 million from 2015 to 2016. Profit also dropped from £4.6 million to £2.9 million.
This follows a 246% increase in pre-tax profit in 2015.
The strategic report included with the accountes noted that:"Brandfuel reported a decline in turnover in the 12 months to May 2016, as a result of a number of one-off having been booked in the previous period.
"The company also invested in the future of the business by recruiting additional senior team members to help drive the business forward and made an upfront investment in a new business strategy that is already delivering tangiable results."
In 2016 Brandfuel expanded its creative and senior teams, investing heavily in new staff to drive the business forward. Marina Ranger, commercial project manager at Brandfuel, also starred on C&IT's A List 2016.
Brandfuel's founder David Ball commented:"BrandFuel had a record year in the 12 months to May-2015, which led to a significant increase in both turnover and profit. This increase was wholly due to BrandFuel being chosen to deliver a number of strategic, one-off projects for clients. Consequently we took the decision to make a number of key investments into the business to support our long-term growth ambitions.
"As a result of these investments, which included expanding our heavyweight senior creative and digital team to help drive the business forward and investment in new innovative technologies to further deepen our capabilities, we are confident that BrandFuel is well positioned to return to growth and deliver some exciting, cutting-edge projects for our clients.
"In the current year, we have continued to win further business from our existing client base and have also won a number of significant projects with exciting new clients. We look forward to showcasing some of these over the course of the next year."
See more on Brandfuel:
More:
BrandFuel shines among winners at C&IT Awards
Strong relationship with Google catalyst for BrandFuel win
A List 2016: Marina Ranger, Brandfuel
Brandfuel appoints new staff members
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