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Lack of sporting events sees Mike Burton Group profit fall

Firm hails "another successful year" despite sharp drop in pre-tax profit and turnover

Pictured: the Rugby World Cup 2015 had a significant positive impact on last year's results

Mike Burton Group has hailed “another successful year” despite sharp falls in both pre-tax profit and turnover.

Pre-tax profit at the Gloucester-based corporate hospitality and specialist travel provider fell from £8.7m in 2016 to £174k for the year ended 31 March 2017. And turnover fell from £32.6m to £13m in the same period, according to accounts filed at Companies House.

The strategic report accompanying the accounts said: “The group has enjoyed another successful year. The business is cyclical and individual results depend on events taking place within each year. Work continues on a number of long term projects that will come to fruition over the next few years.

“The group is now entering a period of sustained growth that the directors are confident will ensure the group is successful for the foreseeable future.”

Last year’s accounts included the Rugby World Cup 2015, which had a significant positive impact on the results of the group.

Referring to the fall in turnover, the report added: “This reflects the cyclical nature of the business and the number of major sporting events occurring during the periods.”

The group’s corporate hospitality arm saw pre-tax profit fall from £30k to £20k in the same period, while turnover rose 19 per cent from £3.7m to £4.4m.

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