Jaywing remains confident despite reporting a loss

THE acting chairman of Yorkshire-headquartered marketing and consulting business Jaywing says its financial performance has continued to improve and significant strategic progress has been achieved, despite the group reporting a loss. 

In the year to the end of March sales were flat at £26.7m and the company made a pre-tax loss of £380,000 against a £1m profit last time.

But after stripping out one-off acquisition costs and other charges, Jaywing said earnings before interest, tax, depreciation and amortisation (EBITDA) came in at £2.3m, down 8%.

The group reported a statutory loss of £4.8m compared to £0.6m profit in 2013.

Stephen Davidson, acting chairman, said: “I am pleased to report on a year in which Jaywing’s financial performance continued to improve and significant strategic progress was achieved.”

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. In October last year, the group sold its eCommerce integration business Tryzens.

Jaywing said the acquisition of Epiphany has been well received across both Epiphany and Jaywing client bases and externally in the market.

Going forward, the business will operate in two divisions, agency services and media and analysis.

Jaywing employs 270 of its 600 staff in Yorkshire.

Picture shows Martin Boddy, chief executive of Jaywing.