DRP Group targets 10% profits rise for 2008

Worcestershire-based agency DRP Group is projecting an annual turnover of up to £7m this year, up from £5m in 2007. The projection comes on the back of a record 2007 for the agency, during which time its turnover grew by two-thirds – from £3m to £5m. DRP Group managing director Dale Parmenter said the agency is targeting a 10% growth in pre-tax profits for 2008 but admitted that “it’s going to be a challenge” in the current, tough economic climate. Providing clients with flexible services would be key to achieving the target, said Parmenter. “We own our company and have continually invested in it, whereas a lot of our competitors have hired in and subcontracted out but we can be more flexible with our clients because we have retained control,” he said. “There will be a lot of last minute client requests and budgets will be tighter so we need to offer them a much more varied range of services.” The agency has moved its London contingent from its office in Soho Square to a property in Covent Garden, which it acquired in November and is refitting the office to accommodate production areas, a studio, office space and a rehearsal room. It is due to be launched at the end of this month. DRP Group has boosted staff from 46 in July last year to 52 at present. It is recruiting a further five employees – ranging from project managers through to technical experts.

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