Grass Roots records strong profit growth
24 June, 2015
— Grass Roots, the world’s leading provider of employee and customer engagement solutions, is delighted to announce its 2014 results, which reveal strong performances across the global Group.
The Grass Roots Group PLC finished 2014 ahead of expectations, a substantial improvement on the prior year, resulting in an EBITA of £9.3m (2013 £7.9m). Operating profits, after amortisation of goodwill and depreciation were £6.8m.
The UK market continued to deliver the most significant profit for the Group, but a greater proportion from growing overseas markets helped to boost the overall results. Amongst the highlights were a stand-out performance from market-leading cycle-to-work provider Cyclescheme, and the UK Meetings & Events business which delivered an outstanding result bouncing back strongly from a loss-making result in 2013.
Consolidation was a key focus for Grass Roots throughout 2014, and an improving UK economy coupled with securing a number of large and long-term client contracts enabled the organisation to realise one of the most successful trading years in its history.
Richard Bandell (pictured
), Chief Executive Officer for Grass Roots, is delighted to confirm the 2014 results and comments, ‘2014 was the first step towards our ambitious vision. We have outlined our mission, our strategic priorities and our long-term financial targets and we are well on our way to achieving our 2020 goals. 2015 sees us entering an investment phase and we are focusing on doing business better; ensuring we have the best products; and getting ready to expand our global reach. The 2014 financial achievement can be clearly attributed to the passion, professionalism, and willingness to go the extra mile of our people in our offices around the world; and the continuing trust placed in us by our clients to deliver value to them.’
About Grass Roots Group
The Grass Roots Group is the world’s leading provider of employee and customer engagement solutions.
Founded in the UK in 1980, we have offices in 10 countries throughout the world, and provide services in over 100 countries. Grass Roots is an affiliate of WPP.
Grass Roots Group companies have over 14,000 clients, including 41 of the FTSE 100, 104 of the FT Global 500.
Grass Roots in the UK has been listed in the 2007, 2008, 2009, 2010, 2012 and 2014 Sunday Times list of Best 100 companies to work for.
Four specialist divisions operate globally:
Promotions & Incentives
Meetings & Events
To find out more visit www.grassrootsgroup.com
For further information please contact:
Charlotte Jackson, Global Head of Internal Communications
+44 (0)1442 829 400