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MCI UK turnover up 69 per cent to £9 million

Increase in corporate services leads to upturn in both pre-tax profit and gross profit in 2015
05/10/2016

Pictured: Jennifer Jenkins

MCI UK has announced an increased turnover by 69 per cent to £9 million in 2015, while the pre-tax profit at the firm was £21k following a £229k loss the previous year.

MCI UK director Jennifer Jenkins said: “The results for MCI UK Ltd show an increase in turnover in 2015 to £9m from £5.4m in 2014. This is primarily due to an increase in business in the corporate sector. Further growth is represented by 20 per cent increase in gross profit to £3.6m.

“The company made a consolidated operating profit of £69k in 2015 compared to a profit of £47k in 2014. This improvement is as result of efficient use of resources and cost management. This result includes MCI Group charges of £360k, so underlying profit before group charges would be £429k. 

“MCI continues to invest in its people and provide multiple services to its clients.”

An operating loss from 2014 of £197k has improved to become a current year profit of £31k, thanks to overall cost reduction initiatives that the company undertook in 2014 which continued in 2015. 

While administrative costs also rose by 11.5 per cent to £3.6m, from £3.2m in 2014, as a result of increased business volume, this net increase in costs was more than offset by the improved gross profit. The result for the financial year after tax has improved to a current year profit of £20k, up from a £208k loss in 2014.


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