Fuse 8 grows turnover by 12% during first year on AIM
Fuse 8 increased its turnover by 12% the agency’s preliminary financial results have revealed, with the company increasing turnover to £5.06m.
The agency, which made a turnover of £4.51m in 2010, also saw its revenue increase to £3.60m, an increase of 8%, while its headline operating profits increased by 14% to £684,000.
The agency also revealed that it had a cash balance of £200,000, £100,000 less than in 2010, but that it had witnessed an increase in its headline operating profit margin to 19%.
These figures are the first since the agency completed a reverse acquisition and admission to AIM last July, which led to the acquisition of Delete Digital in London last November, with further acquisitions expected as part of its strategic plan.
Founder Mark Walton also took on the role of non-executive chairman at the Leeds-agency in April this year.
Nigel Hunter, chief executive officer for Fuse8 (pictured), described the agency’s first year on AIM as “successful” and said it was pleased with five years of “consistent revenue growth.”
He added: “Our proposition is strong; the challenging economic climate of the last two years has meant that marketeers are looking for more measurable value from their marketing investments, and the data-rich results achieved through digital communications have ensured that demand for these services has remained robust.
“We look forward to developing the Company further, both through organic growth and strategic acquisitions, with the ultimate goal of delivering enhanced shareholder value.”