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November 30, 2008

Recession cast aside as Maritz profits exceed £1.2 million

In an incredible example of a company taking its own advice, performance improvement company Maritz has considerably improved its own performance.

The organisation recently announced record results from its 2007/08 financial year, with a profit before tax of £1.225 million, the best results the company has achieved in 10 years. Turnover increased by 19% to £42.8 million.

“I am proud and absolutely delighted at the achievement of these results,” said Nick Bender, managing director of Maritz and Grass Roots Group board member. “The performance and continued growth of the Maritz business is down to the hard work and 100% commitment of our talented people.”

Maritz’s turnover from meetings and events increased by 41% during the 12-month period. It delivered over 200 events, from small meetings to pan-European conferences for several thousand delegates. It also issued more than 5,000 airline tickets, dealt with 29,000 delegates, created 19 web-registration events in over 30 languages and delivered more than 200 communications and incentives projects.

The business has continued to concentrate on improving its three core areas: greater client focus, tighter cost control and improved financial reporting. In doing so, it has further embedded standard business practices across the company by introducing ‘Smarter Works’, an internal continuous improvement programme that touches all parts of the business.This process helps to eliminate waste and encourage best practice and will result in continued sustainable profitable growth in the future.

During the year, two new Grass Roots acquisitions – Moyles Motivational Marketing and Delegate Management Services – came under the management of Maritz.  These two businesses specialise in live event production and client and delegate event registration, complement the existing services offered by Maritz. 

The acquisitions have enabled Maritz to further expand the breadth of its service offering in the marketplace. Maritz reports that both businesses have had good first years and already synergies have been taken advantage of with over 12 shared new client projects being undertaken between the three businesses.

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