Pictured: TRO will continue focusing on retail and further investing in its new creative technology division, TROi, in 2017
TRO Group saw pre-tax profit rise 19 per cent to £2.4 million after a ‘strong performance’ in 2015.
Turnover rose 11 per cent from £30.9m in 2014 to £34.4m for the year ended 31 December 2015, according to accounts filed at Companies House. Pre-tax profit was up from £2m in 2014 to £2.4m over the same period.
Michael Wyrley-Birch, COO EMEA, said: “We are very pleased with the growth of our business in the last financial year. We saw increased revenue not only from our existing clients but also as a result of significant new business wins.
“While we are anchored in the present and pride ourselves on delivering an exemplary service to our clients – we always keep one eye firmly on the future to ensure we are helping to push the boundaries of experience marketing.
“In 2017 we look forward to a continued focus on retail, investing further in TROi – our creative technology division - and in attracting new and different types of talent that will help to drive our business forward.”
Writing in the strategic report accompanying the accounts, Keith O'Loughlin, chief executive of TRO, said: “The TRO UK board were pleased with a strong performance in 2015, finishing ahead of plan and achieving all key strategic objectives. The performance was based on a solid foundation of existing client work with profit up lift resulting from new service in retail experiences.
He added that the experiential marketing agency re-secured its largest client on a three-year contract in 2015 and expanded its European operations by opening offices in Barcelona, Madrid and Milan.
The year saw Nicky Morgan appointed to the newly-created talent director role, while TRO also won more awards in 2015 than in any previous year, with a total of 35 awards and commendations.
O’Loughlin said: “In 2015 we appointed a talent director and implemented comprehensive new training programmes for all managers and executives to empower and enrich existing talent, these programmes also help attract the best talent in the industry.
“The nature of our sector always has an inherent risk as existing work comes up for review and retender, TRO mitigate this risk by having a strong new business pipeline to replenish any lost business.
“The previously identified trend for clients looking for regional agency solutions has built momentum with more than 50 per cent of new business enquiries looking for agencies that can work in multiple European markets. TO capitalise on the trend our European operations have continued to expand, opening offices in Barcelona, Madrid and Milan in 2015, along with other international offices in Asia and a strategic partner in the US we are well placed to respond to the requirement for regional and global contracts.”