Turnover up at Inntel as profit drops

Company records a 'marginal' drop in operating profit due to increased investment in the events team and international operations.

Image from Twitter @inntel_co_uk
Image from Twitter @inntel_co_uk

Inntel has seen a 5% turnover increase alongside a 4% gross profit drop for the financial year ending May 2018, accounts posted on Companies House show.

Turnover increased from £4,608,309 to £4,838,176 while gross profit fell from £3,416,123 to £3,274,428.

In the strategic report included with the accounts, director Douglas O’Neill writes that the company "has anticipated a marginal drop in its operating profit of £499,721 from £772,489 in 2017, due to a significant increase in investment during the year in their events team, international operations and IT team."

The Essex-based agency now employs more than 140 people. 

When considering future risks, the report states: "The loss of any client would be unfortunate. However, no single client accounts for more than 9% of Inntel’s income. Furthermore, the contractual longevity of clients and long termination periods enables Inntel to plan for any contract termination."

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