Group turnover reached £18.9 million and pre-tax profit leapt 63% from £1.4 million to £2.3 million. The Group achieved a very creditable operating profit margin of 12 per cent, says the company.
These record results, anticipated by the Directors in earlier statements, are largely a result of the acquisition strategy that the Group has pursued in recent years. The most recent acquisition, Gramophone magazine from Haymarket Business Media, was not part of the business for the full accounting year but has already made an excellent contribution.
The Directors are hoping for continued, sustained growth in the coming years. The recent acquisition of Findlay Media, which has revenues of over £6 million and 54 staff will add further strength to the Mark Allen Group portfolio. The Group is continuing to invest in its core products with the launch of a best-of-breed online platform for its healthcare and education journals, reflecting the increased digital consumption of its content.
Further growth from recruitment websites and major events, including the Engineering Design Show and the re-launched Nursery World Show, remain exciting developments for the Group, says Mark Allen Group.
