Universal defends latest financial results

Agency Universal has defended its latest set of results and claimed it is on track for significant growth in 2007. The figures, covering the 14-month period to 31 December 2006, show a 46% rise in turnover to £28.8m, while gross profit increased 42% to £4.9m, but pre-tax profits were down 80% to £150,587. Managing director Mike Ford defended the pre-tax figures, putting the fall down to three exceptional items: the 14-month trading period – extended by two months to realign the agency’s financial year and consequently including the slower months of November/December – increased staff numbers from around 75 to 106 and the fact that the results also include two years’ bonuses, which came in at £700,000. Forecasting on this year’s figures, Ford said: “Looking at gross profits and revenue for this year, we are looking at double-digit growth for 2007.”

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Expert offers advice on unusual dietary requirements

Expert offers advice on unusual dietary requirements

Food and allergen specialist explains why you should take every allergy request seriously.

New 3,000 capacity venue Magazine London launches with big name events

New 3,000 capacity venue Magazine London launches with big name events

North Greenwich venue opens its doors with high-profile industry events announced for Autumn 2019.

Events industry can combat climate change in two key ways, says UN officer

Events industry can combat climate change in two key ways, says UN officer

As people take part in global climate strikes ahead of Monday's UN Climate Change Summit, how can the events industry play its part?

New global executive creative director for 2Heads

New global executive creative director for 2Heads

Latest appointment for the agency will oversee the expansion of creative and design teams.

How voice recognition is changing the industry

How voice recognition is changing the industry

Voice technology is about more than playlists and weather reports - wayfinding is helping to show just how useful the tech is.

'Overtourism does not really exist, it is a media creation'

'Overtourism does not really exist, it is a media creation'

Professor Dimitrios Buhalis explains why there's no such thing as overtourism, just bad management of destinations.

Bruges to open new convention centre in 2021

Bruges to open new convention centre in 2021

Famous Portuguese architect has made natural daylight a top selling point of the new city-centre venue.

BeSixth hires head of global strategic partnerships

BeSixth hires head of global strategic partnerships

The recently-launched event agency's new appointment will be based in the Los Angeles office.

What's happening at Italy at Hand, The Event, 2019 in Rome this year.

Case study: Australasian Animal Studies Association Conference

Case study: Australasian Animal Studies Association Conference

The conference in Christchurch, New Zealand focused on indigenous attitudes towards human-animal relations.

LATEST JOBS