Hasgrove announces results

Hasgrove, the expanding media and marketing group, is to pay its first dividend.

The headlines include a 42 per cent increase in turnover to £21.7million and an increase in gross profits from around £10million to £15.1million.

Much of this growth has come through acquisition however; the company reports that the gross profit of existing businesses was also improved by 6.7 per cent.

Over the course of the year the group has acquired a string of organisations including Cabinet Stewart, Odyssey, Pavilion and Amaze in addition to London-based public affair business Politics International.

As a result of the performance the group has proposed payment of its first dividend – which will be 0.5p per share.

Said chief executive, Rod Hyde: “During 2007 we continued to develop rapidly with a particular focus on our public affairs and digital capabilities.

“The current year’s trading has started well with a number of key project wins. We remain confident of another successful year, particularly given the high visibility of earnings.”

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