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Illuminas Numbers Cheer Troubled Parent
UK-based consultancy Illuminas has announced quadrupled profits for the year ending February 2007, despite problems at its owner Media Square. Global fees rose to c.£9m in the year ending February 2007 from £8.5m a year earlier, while profits rose from £0.3m in 2006 to £1.3m in 2007.
Operating profit margin for the year to February 2007 was 14%.
The firm says the previous year's figures were 'below average, following a period of consolidation' but that the impressive figures for 2007 were also a result of a successful internal review of client services and staff needs instigated by the new management team.
CEO John Connaughton says the results 'reflect the commitment and hard work of highly motivated and talented teams internationally, plus the strength of relationships with a growing global client base.'
Parent group Media Square has had a troubled week, with the replacement of Executive Chairman Jeremy Middleton, its driving force through five years which have seen its billings grow from £3m to more than £200m. His successor, troubleshooter and YouGov Chairman Roger Parry, must however deal with losses of over £3m despite sales up 63% on the year. Middleton will leave the group after transitional work as a consultant.
Illuminas' expertise includes brand strategy, business strategy, communications, online, shopper behaviour and child and youth. With offices in London, New York, San Francisco, Austin, Hong Kong and Shanghai, it is on the web at www.illuminas-global.com while Media Saure is at www.mediasquare.co.uk .
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