Smyle Group posts 52% turnover increase

Smyle Group has reported a 52% increase in combined turnover for the 2014-15 financial year, to reach £10.54m.

Smyle Group's managing director, Rick Stainton
Smyle Group's managing director, Rick Stainton

The company’s combined earnings before interest, taxes, depreciation and amortisation have been reduced to £22,000, which it attributes to one-off exceptional costs across both Smyle and Pumphouse Productions, the company it acquired in February.

The 2014-15 financial year has also seen the company move to larger premises in London, and increase its staff numbers by 20%.

New accounts wins over the year include Google, HP and EY, meanwhile the company claims to have strengthened relationships with key existing clients.

Rick Stainton, managing director at Smyle Group said: "These figures demonstrate the bridge we have crossed in growing up as a business – a number of key one off exceptional items have compromised our profit in the short term, but we are now seeing great momentum as a result of these various investments. They are all designed to support our awesome team in delivering on our clients’ objectives, help them be better in the services they offer and enhance our reputation for producing creative winning ideas.

"As a result, our forecast for the current financial year as a whole is growth in turnover for Smyle Group to circa £12m, which is a great platform to build upon as we enter our most exciting chapter yet in the Smyle story."

The day after news broke of the Pumphouse acquisition, Stainton told Event it was potentially targeting a £10m-plus turnover in 2015.

In other Smyle news, David Hornby announced his resignation from Smyle in August.

Comment below to let us know what you think.

For more in-depth and print-only features, showcases and interviews with world-leading brands, don't miss the next issue of Event magazine by subscribing here.

Follow @brea__carter

Have your say

Only registered users may comment. Sign in now or register for free.

Follow us

Latest Event Jobs

Venue Search

close this