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August 14, 2015
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UK: WRG Group Posts £100k Loss Despite Rise in Gross Profit




WRG Group has recorded a £104k pre-tax loss despite an increase in turnover and gross profit.

The group, which bases its experiential business in Manchester in the UK, and has further offices in Basel, and Philadelphia, registered turnover of £55.7 million in annual accounts for the year ended 31 October 2014. And although operating profit hit £915k – up from £435k in 2013 – the company took a £617k hit for exceptional items which related to payroll costs as a result of restructuring earlier in the reporting period, and set up costs of the US office. 

WRG Group also made a pre-tax loss in 2013, of £85k, again after an exceptional item relating to relocation from London to Manchester was factored in.

The directors’ report stated: “The board are satisfied with the improved trading performance over that of 2013, and are continuing to make the necessary changes to bring about long term sustainable growth and profitable trading."

Read more at MeetPie.com...
 


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