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No Brexit impact at drp as revenue hits £30m

Drp CEO Dale Parmenter says he has not seen any dip in activity due to Brexit

Pictured: Drp has not been hit by Brexit, according to CEO Dale Parmenter

Drp says it has seen no impact from Brexit on sales, with revenue hitting £30 million this year.

Responding to reports
that UK companies have shelved conference plans for Q4 because of uncertainty over Brexit, drp CEO Dale Parmenter said he had not seen any dip in activity.

Parmenter told M&IT: “Thus far, we haven’t seen any impact from Brexit on sales. In fact, Q4 has already beaten its target and overall our revenue on 2018 is up 43 per cent on last year at £30 million. By the end of the year that will have grown further, plus we have excelled in recruiting 80 new team members in the last year.

“We are seeing a huge pressure on budgets, which is putting additional pressure on gross profit, however, I don’t believe this is anything out of the ordinary. With continued careful planning and negotiation, we are able to drive efficiencies and pass these on to our clients.”

In its last set of accounts filed at Companies House for the year ended 31 December 2017, drp reported an increase in pre-tax profit from £655k in 2016 to £1.1m in 2017. This came alongside an increase in turnover from £16.6m in 2016 to £21m in 2017.
“It’s clear we are concerned about the impact of Brexit, as there is still uncertainty about what will happen for industries and events across the board, which isn’t helpful when planning forward," added Parmenter. "Nevertheless, as far as we’re concerned its business as normal, and we will continue to accelerate.”

In September the agency hosted its biggest and most successful drpbigtalk to date at its Worcestershire headquarters.

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