Yorkshire headquartered Jaywing has once again reported a pre-tax loss but says that revenues continue to improve.
Interim results for the six months to the end of September, show that Jaywing, which employs 270 of its 600 staff in Yorkshire, reported a growth in revenues to £17.3m, up from £13.2m in 2013, and a rise in EBITDA before other income of £1.98m, compared to £1.09m in the same period last year.
Pre-tax losses wee almost £1.3m compared to a £16,000 pre-tax profit this time last year. Net debt at the end of September was £5.52m, down from £5.81m at the end of March 2014.
Commenting on the results, Chairman Ian Robinson said:
“These results show the success of our strategic restructuring and repositioning with significant growth in gross profit and adjusted EBITDA, reflecting the acquisition of Epiphany Solutions on 17th March 2014.
“Market conditions continue to improve with client spend on the increase as consumer confidence returns. Many brands are turning their attention to delivering seamless and personalised customer experiences across multiple channels and devices.
“Our enlarged business contains all of today’s key specialisms – data, analytics, website design and build, search marketing, content marketing, social media and brand communications. With our collaborative business model and culture we are able to provide our clients with fully integrated solutions that treat their customers as individuals and deliver attractive returns on investment.”
Jaywing has its headquarters in Sheffield with offices in Newbury, Ipswich and Swindon, and has been built through the acquisition of various different firms since 2007.
In March, the group acquired Leeds and London-based Epiphany Solutions in a deal worth around £18m.