Chillisauce records increase in profits and turnover

Agency Chillisauce says it has achieved pre-tax profits of £261,000, following a previously reported profit loss, with turnover also rising from £17.2m to £19.1m.

Chillisauce: looking towards growth
Chillisauce: looking towards growth

Its figures are for the year ending 30 September 2016. Last year, the agency said a one-off write down of some capitalised technology costs contributed to a £280,000 loss before tax.

Matt Hull, commercial director at the agency said: "We are already starting to see a positive impact and a good return on the significant investment made over the last couple of years in IT systems and infrastructure. Our investment in technology will enable the business to scale up, increase profitability and break into new markets, enabling us to offer an even greater range of group activities and events for our clients."

The agency says it is also expecting to see further growth and improved profitability this year, despite Brexit uncertainties and the weaker pound. It points to another year of growth in 2017 with a further increase in bookings on both the consumer and corporate sides of the business. The agency is featured in the top ten of the list of the Top 20 Agencies in C&IT's State of the Industry Report 2017.

Hull added: "We are currently nine months into our new financial year, and figures already show another strong performance across the business. Our target this year is to make it over the £20m turnover goal post, and we’re certainly on track to achieve this. We are up nine percent compared to the same time last year which is extremely encouraging." 

The company, which employs just under 100 people at its London Bridge base, has clients including Barclaycard, Deloitte and Warner Bros.

More:

C&IT A List 2017: Selina Pridmore, Chillisauce

Chillisauce expands corporate team following 17% rise in 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

BVEP elects new chairperson

BVEP elects new chairperson

The Business Visits & Events Partnership has also set up a new executive committee to advocate for the industry.

'The industry needs strong leadership on sustainable change'

'The industry needs strong leadership on sustainable change'

Getting back to business as usual is no longer an option, says Selina Donald, founder of The Bulb.

LIVE UPDATES: India extends national lockdown to 31 May

LIVE UPDATES: India extends national lockdown to 31 May

Find out which countries are on partial or national lockdown, what travel restrictions are in place and what size gatherings are allowed.

Why online conferences are great for introverts

Why online conferences are great for introverts

The switch to digital events has been a bonus for less outgoing types, says founder of SaaStock.

One week to enter the C&IT Awards Americas

One week to enter the C&IT Awards Americas

As C&IT expands its reach globally, we've launched the C&IT Awards Americas to recognise the best in US events.

Drive-in cinemas could have a starring role in the return to live experiences

Drive-in cinemas could have a starring role in the return to live experiences

A socially distanced return to live events could see people being entertained from the comfort of their cars.

‘I’ve been mourning my old life’

‘I’ve been mourning my old life’

Event planner and founder of The Professional Retreat reflects on how being furloughed and in lockdown has changed her world view.

Two major industry associations rejoin BVEP

Two major industry associations rejoin BVEP

MPI and MIA join forces with Business Visits & Events Partnership, creating a stronger unified voice for the events industry.

Cheerful Twentyfirst hire senior team of folded agency Unicorn Events

Cheerful Twentyfirst hire senior team of folded agency Unicorn Events

Brand experience company brings in three of the team from Unicorn, which closed for business amid the coronavirus crisis.

Case study: The virtual event for 8,700 delegates

Case study: The virtual event for 8,700 delegates

Drift's Virtual Summit for its sales and marketing community was organised in six weeks by agency emc3.