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Worldspan profit passes £570k as Wilcock completes buy out

New clients and increased volume boosts performance as chairman takes majority stake in parent company
04/01/2016

Jason Wilcock has completed a 'family buy out' of Worldspan's parent company, the Wilcock Group

North Wales-based Worldspan has recorded its strongest financial results with a pre-tax profit of £570k.


New clients and an increased volume of events has underpinned the growth which saw Worldspan post a 90 per cent increase in operating profit for the year ending 30 June 2015 – although those figures are distorted by a £227k intra-group loan write off in 2014’s figures. Turnover also increased by £1.9 million, to £9.2m.


Chairman and commercial director Jason Wilcock has also completed a ‘family buy out’ of Worldspan’s parent company.


“Our event, creative, digital and professional conference organiser divisions all delivered exceptional growth in the year as we achieved our strongest financial results to date,” Wilcock said. “The results continue to reflect a growth in new client wins, as well as the delivery of a higher number of projects for our existing clients.


“We experienced growth across all of our key industry and association segments, with particularly strong growth being recorded within our digital and creative division, as well as our healthcare event practice. We feel optimistic as the industry continues to evolve, but we continue to review our service offerings to ensure that we can meet and exceed our clients’ expectations.”      


Last year, Worldspan rebranded by dropping ‘Group’ from its name, and introduced a new corporate image and website.


Wilcock is now the majority shareholder in the Wilcock Group, having purchased 58 per cent of the family business’ shares.


“Worldspan as a business stretches back to 1972, as one of the first corporate event management agencies in the UK, and it’s incredibly exciting to continue that journey of growth under family ownership,” he added.


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