Hasgrove posts H1 pre-tax profit of £0.7m for 2012

Marketing communications group Hasgrove has announced a half-year pre-tax profit of £0.7m for 2012.

The company, which owns agencies Interact, Amaze and The Chase, saw a 16 per cent growth in revenue to £12.2m and grow profit of £9.1m, up by 11 per cent.

Headline operating profit was £0.8m during the first half of 2012, while it reduced its net debt during that period by £500,000 to £1m.

Marketing and technology business Amaze reported a gross profit of £6.6m as it secured a number of new business contract, including pan-European work.

Intranet software provider Interact saw a gross profit of £1.5m made during the first six months of the year, with it's highest ever new business figures for sales of Interact Intranet, that included three intranet sales each in excess of £100,000, while adding Age UK, Flight Centre, Lease Plan and Signet Trading to its client list.

Design agency The Chase delivered a gross profit of £1m having incurred cost reductions following 'a difficult' start to the year due to delayed client spend which it has described as 'temporary'.

Paul Sanders, group chief executive for Hasgrove, said: "The first half of 2012 has seen a significant improvement on the second half of last year. Our focus on the provision of digital solutions for global organisations, along with our restructuring, has paid dividends resulting in improved efficiency, better delivery of projects and good new business wins.

“The pipelines of both Amaze and Interact are strong, having secured wins with prestigious clients, giving us confidence in achieving our full year expectations."

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