Date: 8th December 2011
December 8th 2011 - BI WORLDWIDE produced its best performance in a decade in the last financial year. Audited accounts confirm that, despite a challenging economic environment, all key business indicators showed significant improvements on the previous year. Highlights are:
• Turnover up by 18.3% to £19.324m
• Gross profit up by 28.5% to £6.603m.
• Overall operating profit improved 172%, rising sharply to £513k from last year's loss of £706k.
Key contributors to the overall business performance were:
• A renewed focus on core deliverables of Events and Performance Improvement - corporate events business grew 52%
• A much sharper focus on sales and operational excellence delivered improved client retention and new client acquisition
• A considerable productivity improvement of 23%, as measured by the ratio between gross profit and overheads
Managing Director, Mike Davies, comments: "Without doubt, it is the hard work, commitment to quality, and loyalty of the whole team at BI WORLDWIDE that has returned the business to a positive financial position. We are conscious that ‘one swallow does not a summer make' and continue to work hard to deliver further growth in the year ahead. However, we are pleased with the start we have made and are 7% ahead in the first quarter of the new financial year. We are also delighted that we have been able to give all associates a pay increase and bonus in line with the performance of the business."
About BI WORLDWIDE
BI WORLDWIDE offers strategies and programmes to clients to engage employees, channel partners and customers around the world. We help clients translate their strategic goals into actionable programmes that influence perceptions, change behaviour and improve performance.
We do this all around the globe. We deliver business improvement and measurable results through our core services: events and performance improvement programmes.
BI WORLDWIDE performance improvement programmes improve clients' businesses through rewards, incentives, recognition, research and data analytics, communication, learning reinforcement, and events.
BI WORLDWIDE Events services include design, production and delivery of conferences, incentive travel and launch events for clients such as General Motors, Nissan, Unum, DELL and Toyota.
Part of the $400 million, US-based firm Schoeneckers Inc, BI WORLDWIDE employs more than 1,000 associates throughout North America, Europe, the Middle East, Asia, and Australia. BI WORLDWIDE is an Investor in People, and has BS EN ISO 9001:2008 accreditation.
The company is a member of CIPD, Eventia, The Incentive Marketing Association, and holds ATOL and IATA licences.
Visit:www.biworldwide.com/en-uk/ for further information
Tel: 01908 214742 / 07776 248747