Smyle Group has upgraded its annual forecast at the half-year point of its financial year, forecasting a 40% increase in turnover from £17m in the previous year to around £24m for its financial year ending 31 March 2018.
At the beginning of the year it budgeted for modest growth to an annual target of £19m for this year as it planned for on-going investments, including a significant increase in staff numbers bringing the total workforce to 70 people.
Rick Stainton, Smyle Group’s managing director said: "This forecast upgrade on 2017 is testament to our amazing clients and our whole team’s consistent commitment to excellence for them."
To support this stronger growth, it is expanding the HQ ‘Country House’ in Hertford, effectively doubling its capacity to approx. 30,000 sq ft. This now allows for an increase in the office, technical, scenic and warehouse spaces. It has also launched an American office in Florida.
Current live projects include a major conference in the United States and filming projects in Brazil and Thailand. This has all meant it already has £22m confirmed business for delivery this year, topping the annual target after only six months.
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