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Inntel profit passes £900k after ‘sustained’ meetings growth

Colchester-based agency reaps reward of 'high volume, low value' business as turnover hits £16.8 million

Pictured: Inntel MD Douglas O'Neill

Meetings and travel management company Inntel has grown profits thanks to ‘sustained’ growth in its meetings and events division.

The Colchester-based company has filed pre-tax profit of £909k for the year-ending 31 May 2015, a 3 per cent increase on 2014’s figure of £875k. Turnover was also up, by £1.8 million to £16.88m, as gross profit hit £4.7m, an increase of more than £500k.

Inntel’s group strategic report, accompanying the accounts, said: “The group has had a successful year with attracting new business while retaining existing clients, both of which have contributed to the group’s growth during the last financial period.

“The Group’s meetings and events team have benefited from a greater growth than other departments as a result of persistent sales activity in this area. This, combined with industry recognition of our meetings and events services, has led to sustained growth.”

The report also noted that the first quarter of the current financial year has seen greater growth than 12 months previously.

“The majority of the new business and retained existing contracts has been secured on a long term basis (greater than one-year contracts), demonstrating our clients’ confidence in our services. It is expected that the group’s rate of growth will continue.”

MD Douglas O’Neill revealed last year how a ‘high volume, low value’ approach to meetings has paid off with clients such as Axa, Channel 4 and FirstGroup. The company also undertook a rebrand in 2014, with an updated look, a reshaped senior leadership team and a number of promotions throughout the business.

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