'Difficult' first half to 2012 for The Chase doesn't prevent Hasgrove forecasting 16% income growth
Marketing services group Hasgrove is expected to report a 16 per cent growth in income of around £9m for the first half of 2012.
The group, which during the first half of 2011 posted income of £7.7m, also expected a pre-tax profit of around £0.7m.
The growth comes from new business activity within Amaze, which has secured pan-European and global accounts, particularly around e-commerce.
Meanwhile, intranet business Interact recorded its highest figure for new business sales, including two intranet sales sites worth over £100,000 and US intranet sales being achieved after the recruitment of new sales staff in February, the company claims.
Design business The Chase however, is said to have experienced ‘a difficult start’ with delayed spend from clients for a second successive year. A new business focus and cost reductions have been put in place as a result.
The group’s net debt has decreased to £1m as a result.
Paul Sanders, group chief executive of Hasgrove, said: "The improved performance in both Amaze and Interact is very pleasing. Both businesses have secured significant new wins with prestigious clients, avoiding the project overruns that impacted last year's performance. Amaze and Interact also have strong new business pipelines, giving us confidence in being able to achieve our full year expectations."