Jaywing feeling positive as revenues increase

REVENUES have climbed at marketing and consulting business Jaywing as market conditions continue to improve, however the group also reported a pre-tax loss.

In its interim results for the six months to the end of September, Jaywing, which employs 270 of its 600 staff in Yorkshire, reported a growth in revenues to £17.3m, up from £13.2m in 2013, and a rise in EBITDA before other income of £1.98m, compared to £1.09m in the same period last year. Pre-tax losses came in at  just under £1.3m compared to a £16,000 pre-tax profit this time last year.  Net debt at the end of September was £5.52m, down from £5.81m at the end of March 2014.

Jaywing, which is headquartered in Sheffield and has offices in Newbury, Ipswich and Swindon, has been built through the acquisition of various different firms since 2007. During the year Jaywing continued its restructure and in March, the group swooped for Leeds and London-based Epiphany Solutions in a deal worth around £18m.

Chairman Ian Robinson said: “These results show the success of our strategic restructuring and repositioning with significant growth in gross profit and adjusted EBITDA, reflecting the acquisition of Epiphany Solutions.
 
“Market conditions continue to improve with client spend on the increase as consumer confidence returns.  Many brands are turning their attention to delivering seamless and personalised customer experiences across multiple channels and devices.

“Our enlarged business contains all of today’s key specialisms – data, analytics, website design and build, search marketing, content marketing, social media and brand communications. With our collaborative business model and culture we are able to provide our clients with fully integrated solutions that treat their customers as individuals and deliver attractive returns on investment.

“Overall, the start to the year has been very positive following the re-structuring last year. The new shape of the business is providing a higher degree of recurring revenues, more cross-selling opportunities and access to the digital data from which our data scientists can develop innovative products and services.”

 

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