Jack Morton cites accountancy changes for profit rise

Jack Morton Worldwide said a change in the company's financial structure was the reason for pre-tax profits leaping to £5.7m in 2008.

Julian Pullan of Jack Morton Worldwide
Julian Pullan of Jack Morton Worldwide

The group's 2008 accounts, lodged at Companies House, show that it recovered from a £3.6m loss in 2007.

Jack Morton Worldwide managing director Julian Pullan said the change was due to debts of £3.3m, belonging to dormant companies within the group, being written off during 2008, and £2.2m subsequently being restored to the company accounts.

Pullan said a rise in turnover from £31.7m in 2007 to £42.9m in 2008 proved that the performance of Jack Morton Worldwide had achieved a healthy performance.

"We should focus on top-line figures," said Pullan. "Even in 2007, we had a healthy asset position and that improved in 2008."

Top-line performance had remained steady in 2009, said Pullan. "We have picked up several new clients in recent months and we are in discussion with others. For 2010, we are forecasting growth but 2011 is still when we expect to see significant improvement."

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