Corporate wins boost Grass Roots' profits

Biogen, Pfizer and BP Castrol account wins helped Grass Roots' meetings, events and communications division report pre-tax profits of more than £1.6m for the year ended June 2009.

Corporate wins boost Grass Roots' profits
Corporate wins boost Grass Roots' profits

The company's turnover for the period was £49.6m.

The business rebranded in December and brought the four separate UK companies Grass Roots Event Com, Grass Roots HBI, Grass Roots DMS and Grass Roots Live Ltd under one division overseen by head of global events Nick Bender.

Grass Roots acquired 22 new clients in the first six months of the year including Biogen, Pfizer, BP Castrol and the Learning Grid.
 
Bender said: "Trading is always difficult in a recession but I am very pleased with our results. Our current financial year (July 2009-June 2010) continues to be challenging as reduced budgets come into operation.  However, we are currently seeing a healthy pipeline for the latter part of 2010 and into 2011 which is very encouraging and I am confident we will soon return to increased profitable growth."
 
The agency plans to deliver a "rigorous" preferred supplier/partner programme, boost its healthcare team and further expand the business in Asia-Pacific & North America.
 
Grass Roots' financial year - key figures:

 

  • The agency organised 4,200 meetings and events and 175 communication projects
  • Dealt with 170,000 delegates
  • Issued 6,900 scheduled and 6,200 private charter airline tickets
  • Collected £42m in event fees on behalf of clients

 

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