Engine Group claims 46% operating profit increase for H1 2013
Engine Group has reported a 17 per cent revenue growth of pre-tax earnings for the first half of the year, while the marketing services group also reported a first-half operating profit increase of 46 per cent.
The company's full year figures for 2012 were also revealed with a 10 per cent revenue growth to £91.2m, a 180 per cent rise in operating profit and pre-tax earnings of £11.4m, having picked up clients such as Warburtons, Roll-Royce, Weston's Cider, Tesco Mobile and Birds Eye in the UK.
Underlying operating profit for last year was £6.8m, while pre-tax profit was £0.7m.
During the last year, the company has made a number of senior appointments, including a new CEO for Fuel, Charles Ping, a new senior management team at Slice, Frank Pedersen as managing director of Deep Focus, Rob Donlan, chief information officer and Alex Balfour as chief digital officer.
The US arm of the group also picked up accounts with Pernod Ricard, TreSemme, Nesoresso and Lay's.
Peter Scott, CEO of Engine Group, said that its strategy of "client-centric collaboration" was "working well" as it aimed to deliver better work through "more efficient solutions".
He continued: "All the evidence suggests that this strategy is working well. Today Engine derives over 60 per cent of its revenue from digital solutions, and works for one in four of the UKʼs top marketing spenders," he revealed.
“In 2012 we focussed the business on strengthening management, improving processes and enhancing the way we bring our range of services together for the benefit of clients. 2012 was also a year of consolidation where we consciously invested ahead of revenue in areas such as digital, client service, and new business development in order to provide a firm foundation for future growth.
“We continue to invest heavily in our businesses to provide broader and stronger platforms in what is an ever changing media and technology environment," he continued.
The role of chief executive and chairman are also set to be split, with Scott remaining as CEO, and non-executive Richard Wyatt to be come chairman.