Drp has reported a year of strong growth, with turnover rising 24% for the Midlands-based agency.
In accounts filed with Companies House for the year ending 31 December 2017, the agency drp UK, which is part of the drp Group, said its turnover went from £16m in 2016 to £19.9m in 2017 and gross profit has increased from £9.4m to £11m.
It was also a healthy year for the overall drp Group, said the director’s statement.
"The group’s profit before tax was £1.05m or 5% of turnover. The group had an increase in turnover to £21m and a gross profit of £11.9m, compared to the previous year’s figures of £16.6m turnover and £9.8m profit."
"Throughout the year we had 47 new starters and very few resignations, maintaining our retention rate of 93%, which increased our team to 231 by the end of the year."
"There was considerable investment in facilities across all channels, in particular the three studios, with upgrades allowing more ambitious programmes and events to be staged within the complex. This included Channel 5’s Gadget Show, where two series’ were filmed during the year.
The directors' statement also highlighted last year’s acquisition of incentives specialists Penguins.
"The most significant investment of the year was the acquisition of Windsor-based events and incentive agency Penguins," it said.
"This well-respected agency has been around for three decades employing a team of 25 and they will bring further expertise and experience to the group. Penguins will remain in Windsor as an independent agency, with all the support and resources of the group behind it."
Drp recently hosted its annual drpBigTalk event, at which 140 guests attended a day and evening full of insight and innovation, including keynote presentations, interactive breakout sessions, and a sit-down dinner in the evening followed by entertainment.
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