Fresh
Tangerine announces profit growth for 2009/10
Despite one of the toughest business years in market records, the Tangerine Group (including Tangerine PR and Juice Digital) has announced profit levels at 23% for FY 2009/10, ended February (increased from 20% in 2008/09) along with stable turnover. And FY2010/11 is also off to a flying start with annualised additional revenue in March and April alone at more than £200,000.
The consultancy had a busy year, acquiring specialist social media marketing agency – Juice Digital – in November and growing from 22 to 30 people over the course of the year.
Almost perfect client retention and impressive organic growth, matched by new business wins including Manchester United Soccer Schools, Soreen, Quinn and InterfaceFLOR, kept the consultancy growing and profitable and enabled it to keep promoting and rewarding staff, including paying annual bonuses this month.
To support the above growth, Tangerine restructured the PR business into three teams: trade, corporate and consumer and appointed ‘heads of’ for each team (finalising this last week with the announcement of the appointment of creative director, Nigel Hughes, to head up the award-winning consumer team).
“We decided right back when people were discussing a recession that it wasn’t going to change the way we operated,” explained group MD, Sandy Lindsay. “We’ve continued to develop and reward our staff and treat them and our clients with honesty, courtesy and respect. And we’ve continued to be careful about the types of business we take on – ensuring new business fits within our sectors of specialism and can be delivered with pride and profit.
“To have continued making promotions, pay-rises and a bonus in this financial year is something we’re very proud of – our team is very committed to Tangerine and it’s important that we reward this dedication accordingly, rather than using the recession as an excuse to keep money in the bank.
“2010 is looking extremely exciting, with some superb wins already in the forecast, Juice Digital growing exponentially and our recently gained IIP Silver status award testament to our commitment to continuing with our team’s development.”
