RG: record pre-tax profits boosted by Maritz

The latest annual results from Grass Roots Group (GRG) has reported all-time highs for both turnover and pre-tax profits. The year to 30 June showed turnover up 64% to £237.3 Million while pre-tax profits leapt by 50.7% to £8.3 Million. The latter figure was helped in no small part by Maritz, which reported its first full-year set of financials since becoming acquired by GRG in April 2006. It weighed in with pre-tax profits of £440,000. GRG has acquired several businesses in recent years – most recently live marketing specialist MMM in September this year – and now operates in 14 countries. “I am fortunate to have a great team of over 1,000 in the group, all of whom share the vision that was born in the original operation,” said GRG chairman and founder David Evans. “Those companies such as Maritz Europe and our American subsidiaries have all made great progress and contributed to this successful outcome.” Maritz has gone from strength to strength since its poor financial showings previous to acquisition and in the twelve-month period to June 2007 it executed more than 500 projects and won eight new blue-chip clients. “Our aim from the beginning has been to generate sustainable, profitable growth and we will continue to achieve this through greater client focus, tighter cost control and improved financial reporting,” said Maritz managing director Nick Bender. “It has been a terrific year as we were able to include a pay review for all staff and, for the first time in many years, a company performance related bonus for everyone. I’m looking forward to reporting even better results at the end of the present fiscal year.” In the red at the time of its acquisition, Maritz posted profits before tax of £91,000 at the end of the first quarter and these figures have risen in each subsequent quarter, Bender added.

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