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Freethinking Group turnover breaks £100m

republicofmedia

Manchester-based The Freethinking Group, parent to Republic of Media, Rommatic, POPP and Intelligence22 has posted a turnover of £100.6m for the 12 months to March 31, 2022, up from the £84.7m it achieved in the prior year.

The group supplies advertising and media services to big names including bet365, Beaverbrooks and Magners.

A statement from the board said: “Turnover increased by over 18.9 per cent on the prior year, primarily due to an increase in Republic of Media Limited’s key client activity, but also due to the strong growth across other group companies. Group revenues also increased by over 25.3 per cent, delivered as a consequence [of] a disproportionate increase in fee income, and consequently, improving overall margin during what was predicted to be an unpredictable trading period.

“This, despite a more ambitious approach to expansion, and a return in several (cost) areas of our business, resulted in a year-on-year growth on pre-tax profits of 14 per cent. The balance sheet reflects the group’s strong financial position at the year end, positive cash flow having been improved with a return to prompt cash collection resulted in debtor days of 19.”

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