Smyle targets £1m profit and plans European office

Smyle is targeting a £1m net profit by 2015 and plans to launch a European office following a four-month review of its internal and external operations, and perceptions of the agency.

Rick Stainton
Rick Stainton

Following the appointment of David Hornby as non-executive director in December 2009, an external consultant was appointed to review all areas of the business and highlight potential areas for investment and growth. A brand-definition session with the directors outlining Smyle's brand, vision and values for the future was also carried out.

Managing director Rick Stainton commented: "We needed to take stock of what we had achieved since 2004, and give ourselves a clear foundation on which to build a plan for the next five years. We have really focused on areas that can offer significant value to our key stakeholders - clients, our team and industry partners."

"Our five-year plan starts with a ‘back to basics' approach throughout 2010, continues with the vision to expand with a European office, achieve £1m net profit by 2015 and a clear growth of our existing client base and new business."

Smyle reported total turnover of £3.8m in 2009, an increase of 25% on 2008. The 2015 target is based on the agency achieving a growth of 20% a year and reporting in excess of £12m turnover in 2012.

The agency appointed four new employees in the first quarter of 2010 and senior management changes, following the departure of one of the three directors this year due to personal reasons, saw Stainton stepping up to managing director and Matt Margetson becoming operations director.

 

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