Healthcare comms firm reports 20 per cent revenue increase following new acquisitions
A healthcare communications provider has announced a revenue increase of nearly 20 per cent for 2019.
Huntsworth, headquartered in London, saw its revenue rise from £225m in 2018 to £264.9m last year – an increase of 18 per cent and just under £40m.
The company reported that during the year it invested around £4m in the expansion of its property portfolio, which involved the acquisitions of Kyne and Creativ-Ceutical in the marketing and healthcare divisions respectively.
Profit before tax for the firm, however, grew less than 4 per cent from £28.6m to £29.8m.
In today’s report, it said that its growth in profits was “held back as [it] invested in key new hires and property”.
Paul Taaffe, CEO of Huntsworth, commented: “Huntsworth had yet another record year led by growth in our medical and immersive divisions and a return to growth in communications.
“Organic revenue growth accelerated over the course of the year and the acquisitions of Kyne in marketing and Creativ-Ceutical in medical both contributed to 2019 performance and further enhanced our capability to attract larger and higher-margin client engagements.
“We have entered 2020 well positioned for another year of growth with strong momentum at the start of the financial year and an increased new business pipeline.”
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