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Ashfield Healthcare Communications sees profit up 17 per cent to £10.6m

The healthcare communications agency, formerly KnowledgePoint360, saw pre-tax profit rise by more than £1.5m

Ashfield Healthcare Communications, formerly KnowledgePoint360, saw pre-tax profit hit £10.6 million in 2016, an increase of more than £1.5m.

Turnover at the healthcare and pharma communications agency was down by almost £1m, from £45.1m in 2015 to £44.2m for the year ended 30 September 2016, according to records filed at Companies House.

Writing in the strategic report, divisional finance director Cliff McConkey said: “Demand for the company’s services in education and communication programmes continues to be high and business prospects for the coming year remain promising. The year saw strong continuing business from existing clients and new business wins. Steps have been taken to further differentiate existing service offerings in the marketplace and to introduce additional services.”

Operating profit of £10.6m was up 17 per cent compared to 2015.

McConkey added: “This increase in operating profit resulted from strong cost control and improved efficiencies in addition to foreign exchange gains arising in the year of £1.1m.”

The company also generated £1.4m of revenue last year from the licencing of intellectual property and the provision of value added services to group undertakings.

The agency was acquired by Ashfield Meetings & Events’ parent company UDG Healthcare in March 2014. It changed its name from KnowledgePoint360 Group Limited to Ashfield Healthcare Communications Limited on 1 June 2016 and forms part of the Ashfield Commercial and Medical Services division of UDG Healthcare plc.

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