Events bolster Motivcom performance

Events contributed the lion’s share of profits to marketing services group Motivcom Plc, according to figures for the first half of 2006. Interim results for the parent company of P&MM, Archer Young and Summersault showed events were responsible for £818,000 of the £932,000 operating profit. Although turnover was up by more than £5m to £32,161,000, chairman Colin Lloyd said profit growth was “modest”. He put this down to a number of factors, including the timing of an major piece of event business from an existing client that had been moved to September this year from May last year, and had, therefore, not featured in first-half figures. The group had also been forced to absorb the costs of setting up and marketing a home computer initiative benefits programme, only for the April 2006 budget to withdraw the tax benefit at three weeks notice. Investments in new products had also affected the interim profits slightly. However, the motivation and incentives division’s pre-paid Visa card, Spree, has attracted clients such as British Gas, and its new range of childcare vouchers, Childcare Plus, have gained 11 clients. Incentive travel and live events continued to demonstrate sustained growth and recorded a 44% increase in new business opportunities. Motivcom had already achieved 83% of its budgeted full-year gross profit at the end of August, according to Lloyd. He added that there were positive signs for the industry, with expenditure forecasts healthy. “The combination of our investments in successful new products, a number of new client wins, our recent successful acquisitions, and a healthy trading environment gives rise to a positive outlook for the rest of the year and beyond,” he said.

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