Banks Sadler reports £1.4m operating profit

Event agency Banks Sadler has announced a 13% increase in operating profit to £1.4m for the past 12 months.

Leigh Jagger, group chief executive of agency Banks Sadler
Leigh Jagger, group chief executive of agency Banks Sadler

Banks Sadler also reported that group turnover rose by 16% to a £40m. The agency has recorded year-on-year growth in operating profit for the past five years.

Leigh Jagger, group chief executive, said: "The growth in our turnover reflects a very busy year on the event management front, not just in the UK but across all our global offices, coupled with the continuing growth in demand for our creative production and event technology services.

"It really is great news that despite ongoing economic challenges and a robust overseas investment strategy, we have still been able to grow our bottom line."

The agency is set to open a new office in Shanghai, China in June. Jagger added: "We’ve been working hard on getting the infrastructure in place and the team from the Shanghai office have been in London since Christmas training." 

Looking ahead to the next 12 months, Jagger is confident about the outlook for 2016. She said: "2015 has already seen some of our key clients go through fairly major merger and acquisition activity, others have implemented global restructuring programmes and we are already seeing a slowdown in demand from these clients whilst the dust settles. 

"With the general election now looming there is a lot of uncertainty out in the market and only time will tell how things will play out over the remainder of the year. We have a great team and solid foundations in place, so we are confident that, all things being equal, we can continue our upward growth trend into 2016 and beyond."     

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