Banks Sadler sees 5% profit drop in 'challenging' market

However, agency also reports a 5% turnover increase in its accounts for the year ending 31 December 2017.

Banks Sadler has disclosed a 5% drop in gross profit to £8.1m from £8.5m for the year ending 31 December 2017. It has also seen a 5% increase in turnover for the same period from £18.2m to £19.2m.

In accounts posted on Companies House, director Sheena Varma said: "While the company has seen a growth in business in the period, the market has been challenging, gross margin has suffered slightly but still maintain at a healthy rate of 40%.

Citing the main risks to business as financial and competition, she also wrote that "the principle factors are price and customer service."

Banks Sadler was acquired by AMEX GBT in 2017.

Earlier this week, Banks Sadler hired a new head of business development and senior bid writer.

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