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Banks Sadler records 10 per cent profit rise

Unaudited 2016 results show a seventh consecutive year of growth as profit hits £1.6m
03/03/2017

Pictured: Banks Sadler CEO Leigh Jagger

Banks Sadler’s unaudited 2016 results have shown a seventh consecutive year of growth and a 10 per cent profit rise.

The results for the year ended 31st October 2016 show an improvement in profits from £1.48 million to £1.62m, an increase of just under 10 per cent.  Recent changes to UK accounting standards (FRS102), will see Banks Sadler’s actual reported financial accounts for the year showing a higher profit however.

The underlying comparable gross margin for the group has improved from £10.9m to £13.3m, representing a 22 per cent increase.

Leigh Jagger, chief executive officer, said: “This has been another great year.  Our international subsidiaries are now contributing significantly to our profits and despite heavy investment in the back half of 2015/16 in senior headcount within the group, we have yet again been able to post exceptional results. 

“Our business has not only improved its performance in terms of profit, but is also more efficient than ever before. Huge thanks have to go out to our brilliant teams across all of our offices who have worked exceptionally hard to deliver these impressive results.

“We’re in a great place to capitalise on this investment in 2016/17 and have had a strong start to our year, with multiple client extensions and new signings.  This all bodes well for us to continue what has been an impressive run of ever-increasing performance.”


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