WEM reports growth after tricky period

Yorkshire-based agency World Event Management (WEM) has recorded a strong financial performance in 2005 following a difficult few years for the company. Last year, saw turnover climb from £17.8m to £18.4m and profit before tax rose from £279k in 2004 to £964k in 2005 after exceptional payments. “We secured and developed relationships with our existing clients as well as winning new business,” said WEM managing director Martin Parry. “We put a lot of effort into offering more services and controlling our cost base, which has improved margins.” The new offer from WEM includes supplying AV equipment and offering print and design services. Parry added that the strong performance has continued in 2006 with wins in the finance, pharmaceutical and public sectors. The company is now rejigging its teams and recruiting 11 staff. The results come after a testing time for the firm, following the 11 September attacks on New York, which Parry blamed for heavy losses that led to a 30% staff reduction, closure of the London office and a period of reconsolidation in its Northern base.

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