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April 5, 2008

THA Group announces loss

Internal events sepcialist THA Group has announced its financial results for the period ending December 2006. The Group has reported a turnover of £25 million for the period, and an anticipated after tax loss of £597,000 of which £296,000 was non-recurring costs associated with the merger and subsequent creation of the THA Group.

During this period, THA Group made significant long-term investments in infrastructure and systems, not only to operate efficiently within the new structure but to ensure the business is able to meet the ever changing demands of the market place.

"The results show that we made a loss, but this was actually lower than expected," said Kevin Ingram, chief executive officer, THA Group:"We made considerable investment during this period which has obviously impacted on the figures. The merger of two separate companies to create one group was not an insignificant task.

“The one off costs associated with this included investment in new corporate branding, a website, a brand film and internal investment in training and development. This was all in line with our strategic objectives and imperative to the continued success of the business. The 2007 financial results are looking healthy and will demonstrate the positive advancement that THA Group continues to make following this significant investment.

Ingram continues: “We have ambitious plans for the Group, so therefore 2006 was largely about building the team that will take the business forward. The year of a merger is always challenging, but we enjoyed considerable success, including some significant new client wins, some major awards and the growth of our core services to existing clients. This confirms that our investment was well placed.”

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