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Profits nudge £1.5 million at Banks Sadler in sixth successive year of growth

Agency profits rise 10 per cent following new client wins and growth in existing accounts

Pictured: Banks Sadler staff are marking a sixth consecutive year of growth

Banks Sadler has announced a sixth consecutive year of growth, revealing pre-tax profits rose 10 per cent to £1.47 million.

The event management company says its gross margin also grew 7 per cent to £11m, following a spate of new client wins and increased demand from existing clients.

Last year the group posted pre-tax profits of £1.33m, while operating profit grew 13 per cent to £1.4m, Banks Sadler also opened a Chinese branch in Shanghai in 2015.

Leigh Jagger, group CEO, commented: “We are absolutely delighted to see another year of solid and sustainable growth. We are especially pleased that all our overseas offices are now contributing to this growth with the only obvious exception being our latest office opening in China, having only opened its doors in June last year.

"We had always anticipated that our rate of growth in 2015 would be slightly slower than in previous years as a number of our key clients went through fairly major merger and acquisition activity resulting in restructuring programmes and a temporary slowdown in meeting and events activity for them. We are now starting to see those clients revisit their meeting requirements and have already seen an upturn in 2016.

"As a group, we have continued to invest in our event technology offering and creative production as well as expand our senior team, so we are confident that we have very solid foundations in place for what is looking like a very positive 2016."

The unnamed new clients to have signed with Banks Sadler are from the financial, luxury, engineering and gaming industries.

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