Freshwater reveals financial results

Freshwater UK has announced a 61 per cent growth in revenue for the year ended 31 August 2008.

Howell: Freshwater chief executive
Howell: Freshwater chief executive

The PR agency group, headquartered in Cardiff, saw a 46 per cent rise in sales from £6.54m in 2007 to £9.52m. Revenue went up from £4.66m last year to £7.51m this year.

Freshwater also saw a 27 per cent increase in profit before income tax.

Steve Howell, chief executive, said: ‘Trading in the fourth quarter of 2007/8 was strong but overall the first quarter of 2008/9 is expected to be disappointing as a result of the economic downturn.'

The agency employs 115 staff but this figure is expected to go down to 106 by February, reflecting the agency's decision not to replace staff that will leave.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Latest Articles

We Are Social owner BlueFocus reports 65% revenue growth

We Are Social owner BlueFocus reports 65% revenue growth

Chinese marketing services group BlueFocus has reported a revenue increase of 64.8%, year-over-year, to more than $578 million (£343 million) in 2013.

Three more agencies sign up to PR Internships For All campaign

Three more agencies sign up to PR Internships For All campaign

Brunswick, Cohn & Wolfe and MSLGroup have joined the PRWeek/PRCA initiative to boost diversity in the PR industry, which has also attracted support from Leeds Metropolitan University's Business School.

Seeing red: giving PR teams a real business objective

Seeing red: giving PR teams a real business objective

Speed Communications director John Brown talks client behaviours he can't stand.

Growing number of clients plan PR budget increases

Growing number of clients plan PR budget increases

The number of marketers planning to increase their PR budgets during 2014 has climbed, according to the latest quarterly Bellwether survey by the Institute of Practitioners in Advertising.