Healthcare comms firm reports 20 per cent revenue increase following new acquisitions

A healthcare communications provider has announced a revenue increase of nearly 20 per cent for 2019.

Huntsworth, headquartered in London, saw its revenue rise from £225m in 2018 to £264.9m last year – an increase of 18 per cent and just under £40m.

The company reported that during the year it invested around £4m in the expansion of its property portfolio, which involved the acquisitions of Kyne and Creativ-Ceutical in the marketing and healthcare divisions respectively.

Profit before tax for the firm, however, grew less than 4 per cent from £28.6m to £29.8m.

In today’s report, it said that its growth in profits was “held back as [it] invested in key new hires and property”.

Paul Taaffe, CEO of Huntsworth, commented: “Huntsworth had yet another record year led by growth in our medical and immersive divisions and a return to growth in communications.

“Organic revenue growth accelerated over the course of the year and the acquisitions of Kyne in marketing and Creativ-Ceutical in medical both contributed to 2019 performance and further enhanced our capability to attract larger and higher-margin client engagements.

“We have entered 2020 well positioned for another year of growth with strong momentum at the start of the financial year and an increased new business pipeline.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.