MAG reports 44% leap in profits to £4.5 million
09 November 2016
It is another good year for the Mark Allen Group which has once again bucked publishing trends and reported a record year. Revenue for the year ending March 2016 went up 15.6% from £27.6 million to £31.8 million with profits before taxation leaping 44% from £3.1 million to £4.5 million.
Much of this progress was due to the group’s growth strategy. During the latter part of year, the 125-year-old Optician, which serves the optical professions, was acquired from Reed Business Information.
In addition, the group purchased two companies: The Airports Publishing Network, which specialises in the ground handling industry as well as George Warman Publications, which has a number of leading dental companies.
Chairman Mark Allen said: “We are delighted to report an excellent increase in profits. This is due to all the hard work of our teams and our strategy of targeted acquisitions and increasing our presence in key markets.”
Chief executive officer Ben Allen added: “Over the next few years we plan to continue to grow the group significantly, by developing our existing portfolio and launching events aligned to our brands, as well as through our commitment to acquiring quality publishing and events’ assets which fit with our business objectives.”
For further information, contact:
Mark Allen on 020 7501 6700
or Ben Allen on 020 7501 6725