Our 2018 Year-End Financial Results
We have published our year-end financial results for 2018, confirming another strong performance.
Turnover for the year ended December 31, 2018 stood at £82.4m, up 2 per cent on 2017, and underlying profitability improved by 13% to £2.6m, reflecting continued investment in our 10-year strategy to build sustainable turnover in growth sectors, and further develop client partnerships. Turnover for the group as a whole was £102m during the period, with a target to reach £150m by 2026.
Jon Dunwell, our CEO, said our continued success was particularly impressive when measured against a backdrop of continuing uncertainty and volatility in the marketplace, with a lack of clarity over Brexit resulting in clients being cautious about spending.
2018 also saw investment in a modernised and refreshed brand, designed to amplify Morris & Spottiswood’s values consistently across all geographies and business channels.
Mr Dunwell said: “Our refreshed brand signifies change and supports the roll-out of our company strategy. The design systems that underpin it cut out complexity and provide the flexibility and scope to ensure we have a brand that is fit for the future. Our company is built upon a rich history and our new identity reflects better who we are - and the family values that are at the heart of our business.”