Member Article

Leeds’ Communisis plc doubles pretax profit after substantial acquisitions

Leeds-based Communisis plc, the customer communications and marketing firm has announced stellar results, doubling pretax profit on the same period last year.

Pretax profit more than doubled from £1.3 million in the first half of 2013 to £2.9 million this half.

Total revenue was reportedly 40% ahead at £169.3 million compared to £121.2 million in the same period last year.

Communisis also reported substantial investments in acquisitions

Net debt increased to £36.2 million (December 2013 £25.7 million), with net bank debt less than 50% of available facilities at £33.3 million.

Jacaranda Productions Limited and Public Creative Limited were acquired in April 2014 for £1.5 million and £400k in cash respectively with up to a further £500k being payable for Jacaranda dependent on the gross profit generated in the three years after acquisition.

The Communications Agency was acquired in June 2014 for up to £8 million (with up to £5.8 million being paid in cash and £1.45 million in Communisis shares) of which up to £500k is dependent on the delivery of projected EBITDA for TCA’s financial year to 31 October 2014.

Commenting on the results Communisis chief executive, Andy Blundell, said: “This was another strong half-year performance. It demonstrates that our strategy is delivering consistent and profitable growth and the Board is confident about the Group’s prospects for the remainder of the year.”

This was posted in Bdaily's Members' News section by Clare Burnett .