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January 27, 2009
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Profits up at Grass Roots




Grass Roots Group has reported another strong set of financial results for its year ending June 2008. Turnover has risen by 20 percent to £284.3 million (US$421.5 million), gross profit is up 31 percent to £66.8 million (US$99 million) and pre-tax profit has climbed to £10.3 million (US$ 15.3 million), a growth of 24 percent. Significantly, against a background of downbeat predictions for the economy, the company is also able to point to cash at bank amounting to £52 million (US$77 million).

 

The results reflect another extraordinary year for Grass Roots, the business performance improvement specialists. Grass Roots established a Middle East office three years ago, and provides services in communication, education, measurement, rewards and event management, to an impressive client list in 16 countries around the world.

 

In the chairman’s statement, David Evans MBE outlined what he saw as the ingredients for success that are blended together with a long term perspective: “Consistency in your code of practice, encouragement in experimentation, support and respect for the most important assets you have, human beings”.

 

Globalisation is another theme in his commentary that follows a year when the Group has opened offices in India, China and Australia to capitalise on the growing demand for reward and recognition services in multiple markets. Evans points out that the international expansion strategy is predicated on the ability to ‘act local’.


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