WRG committed to experiential in turnaround plans

Communications agency WRG Worldwide says it expects experiential marketing to play a significant part in its turnaround plans, following reported losses.

Russ Lidstone: agency 'committed to experiential'
Russ Lidstone: agency 'committed to experiential'

According to accounts filed at Companies House, WRG Worldwide reported a £1.5m loss in operating profit for the financial year ending October 2015, as well as a 14% drop in turnover, from £55.76m to £47.5m, and a pre-tax profit loss of £5m.

Speaking to Event magazine, CEO Russ Lidstone, who joined the business earlier this year, said that 'experiential is the agency's bread and butter' and an area where it expects to see potential and continuing growth. 

"We had a major restructure in 2015 but we are now delivering more efficiency and more effectiveness. We are in a much stronger position this year and 2017 is looking good too and experiential will be a key component of our growth agenda."

Lidstone would not confirm whether the agency would invest further in experiential, but said it was committed to 'investing in areas where we see a return.'

"Brands are looking for deeper levels of engagement and experiential will contribute to a significant turnaround at the agency," he said. 

In 2015, the agency announced job losses, alongside the closure of its Qatar office. Earlier this year it won a contract to deliver experiential work for Ricoh Europe

Lidstone said there were no plans to open further offices as yet and said that the UK offices in London and Manchester were performing well, as well as those in Asia and North America. 

"We have lots of bases covered at present but we'll never say never to expanding but we are happy with our footprint at the current time," said Lidstone. 

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