Listed marketing business Communisis back in the black
COMMUNISIS is back on track following a transitional period.
Total revenue for the year to December 31 2015 increased by 3% to £354.2m.
From pre-tax losses last year of £13.5m, the company has now reported pre-tax profits reaching £17.3m.
In 2014, Communisis cut 75 jobs at its Leeds head office, with £1.5m in exceptional costs incurred that year, as well as several acquisitions, the costs of which affected its bottom line figures.
Now Communisis has stabilised its business after a period of change, and chief executive, Andy Blundell, said:”We have delivered an improvement across all key performance metrics during 2015.
“Adjusted operating margin moved further ahead and bottom-line profitability contributed to a doubling in free cash flow. Significant contract renewals and our new business pipeline will enable us to continue delivering growth, profitability and value in 2016.”
In 2015 the company announced a £10.6m investment in growth at their West Yorkshire sites in Leeds and Halifax. Earlier this year the company undertook a reshuffle at management level, as it embarked on its next stage of growth.
