Reasons to Smyle as turnover reaches nearly £27m

Agency plans to increase office capacity after year which saw 'growth in volume and magnitude of events'.

Smyle's homepage
Smyle's homepage

Smyle has reported a year-on-year increase in turnover of 63%, to nearly £27m.

In accounts filed at Companies House, the group’s accounts show turnover of £26.9m (up from £16.5m in 2017) and an operating profit of £2.3m (up from £984,580 in 2017) for the year ending 31 March 2018.

"However the gross profit margin decreased slightly as a result of lower margins earned on some of the larger projects, where venue hire, accomodation and logistics spend attracts standard mark-ups only," said the director’s statement with the accounts.

The statement goes on to say that at the beginning of that financial year (1 April 2017), "the company’s subsidiary Pump House Productions International Limited hived its trade and assets into Smyle Creative Limited and the subsidiary became dormant."

On the back of a strong year, there are plans afoot for expansion: "Because of the growth in volume and magnitude of events, the group continued to invest in people, technology and resources. This included the acquisition and refurbishment of an adjoining warehouse to the existing Hertfordshire headquarters, which was available for use by June 2018.

"With an increase in the number of staff, the directors are planning to increase office capacity, including the possibility of expanding the London office."

In May 2018 (the following financial year) Smyle sold a majority stake to Rockpool Investments and in December was included in the Sunday Times Virgin Atlantic Fast Track 100, along with C2 Events.



For more features and breaking news 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
‘I’m sick of being asked why I’m charging’, says DMC manager

‘I’m sick of being asked why I’m charging’, says DMC manager

Event agencies and DMCs debate issues around cost and creativity during a panel discussion at C&IT’s Incentives Retreat.

New global MD for Ashfield Meetings & Events

New global MD for Ashfield Meetings & Events

Agency makes three appointments to its global leadership team, include HR and finance directors.

Planners want more crisis and security training

Planners want more crisis and security training

Event organisers concerned about their lack of preparation for serious incidents after November's terrorist attack at Fishmongers’ Hall.

The 2019 A-List FAM to Cork and Kerry

The 2019 A-List FAM to Cork and Kerry

Meet in Ireland treated the 2019 A-Listers to yoga, pony trekking and uileann pipes workshops.

‘A damaging lack of trust’: Can agencies and DMCs improve their relationship?

‘A damaging lack of trust’: Can agencies and DMCs improve their relationship?

Incentive planners and DMCs discuss the need for more transparency in their working relationship.

C&IT launches incentives survey

C&IT launches incentives survey

Want to be recognised as one of the UK’s top incentive agencies? Complete this quick survey by 31st January.

You shouldn't have to eat junk food at events and go home 'feeling lousy'

You shouldn't have to eat junk food at events and go home 'feeling lousy'

Big changes to how long events affect our health and wellbeing are urgently needed, says a VP of BCD Meetings & Events.

Diary of a delegate: Undiscovered Azerbaijan

Diary of a delegate: Undiscovered Azerbaijan

Exploring the emerging destination’s modern and medieval experiences in Baku, Gabala and Sheki.

Brands at Work appoints new creative director

Brands at Work appoints new creative director

Senior hire brings experience from a range of sectors that will help the agency meet the evolving needs of clients.

In pictures: Four Seasons Hotel Bangkok opening March 2020

In pictures: Four Seasons Hotel Bangkok opening March 2020

The hotel at Chao Phraya River offers indoor and outdoor event spaces in the Thai capital.

LATEST JOBS