Private sector focus pays off for Hasgrove
NORTH West marketing and communications group Hasgrove has recorded a sharp rise in sales and earnings.
The AIM-listed firm behind Amaze marketing and PR, design agency The Chase and lobbying firm Interel, said pre-tax profits jumped 40% to £2.1m in the year to December 31, on sales of £35.4m, up 9%.
After stripping out a £900,000 exceptional charge relating to redundancy costs, and other finance charges, the firm said profits rose 18% to £3.2m.
The business admitted that the speed and severity of Government cuts surprised its clients and had a “significant impact” on Manchester and Liverpool-based Amaze’s revenue forecasts.
A focus on new business from the private sector over the past two years has helped mitigate the damage and replace much of the public sector work, said the company.
Speaking to TheBusinessDesk.com chief executive Rod Hyde said: “In 2009 we started to move over to the private sector, that meant the work came through in 2010 and took over the public sector.
“Amaze has gained a reputation for innovation and is trusted with the strategy of major brands globally and that means we’re getting big wins such as Unilever.
Hasgrove employs 380 staff with 120 at Amaze in Manchester and 35 at an office in Liverpool.
