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Pre-tax profit almost quadruples at Vista following rebrand

Leeds agency welcomes "strong" year despite turnover and gross profit taking slight dip

Pictured: Vista MD James Wilkins

Vista saw pre-tax profit almost quadruple to £934k last year, following its rebrand from Logistik Group.

Turnover was down £578k to £16.3 million for the year ending 31 December 2015, while gross profit also took a slight dip from £3.8m to £3.6m. However, net profit at the communications and marketing agency was up from £139k in 2014 to £767k in 2015.

The results come after the Leeds-based firm rebranded from Logistik Group in 2014 and embarked on an ambitious restructure, welcoming 25 new faces to the team in 2015. The company also acquired Leeds-based printing company Link88 earlier this year as part of its five-year strategy.

James Wilkins, managing director, said that the board was pleased with the results given the challenging trading environment.

He said: “2015 has been a strong year for Vista with sales substantially ahead of plan and profit ahead as well.

“The ability and agility of the team to respond to significant trading movements is a testament to the changes we have implemented over the last 12 months and compared to other agencies we are outperforming the current industry trends.”

“Following the restructure of the company in 2014 and under the new management structure the business is thriving in an extremely competitive marketplace. Clear governance and planning has helped the business achieve its record year in terms of net profitability, though we are not complacent about the challenges facing the industry.

He added that Vista would continue to develop relationships with established clients such as Lloyds, Asda and BT and that the firm was ahead on all key metrics of the new management team’s five year vision for the business.

“The last 12 months show fantastic progress from the previous year’s base with sales up against plan by circa £1m and net profit ahead of target by 33 per cent. Gross margin across the business was marginally behind target for a number of reasons we are actively addressing as part of the future plan,” he added.

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