PR and marketing group Freshwater, which has an office in Birmingham's Brindleyplace, celebrated a successful year by announcing a 111 per cent increase in pre-tax profit.
The UK-wide company said yesterday that its markets remained buoyant and it forecast improved trading for the year ahead.
Underlining its growth strategy, the company also announced details of its latest acquisition - public affairs and conference agency Waterfront, which has offices in London and Brussels.
The deal, the company's ninth acquisition, comes a month after its purchase of Leeds-based PR agency Lynx.
Cardiff-based Freshwater said its trading in the first quarter had been in line with expectations and that it saw another progressive trading performance in the current financial year.
Chairman Bart Haines said: "We are still experiencing robust market conditions and we have an excellent spread in terms of both business offering and client base, making the group resilient to the impact of any slowdowns that may occur in the economy."
The company, which listed on AIM in July, said its pretax profit for the full year to August 31 jumped to £920,701 from £436,006 last year as turnover increased 59 per cent to £6.54 million, reflecting both earningsenhancing additions to its operations and the benefits of cross-selling.
The group's Midlands office played a full part in the results and group executive director Edward Carter, who heads up the operation, said: "We have seen real gains this year both locally and through cross selling as the group has extended both its regional network and the scope of its national specialist areas.
"We can now meet a broader than ever spectrum of clients' marketing requirements as well as increasing our market share in the region."
Freshwater said that the Waterfront deal, which amounted to £2.245 million, was unlikely to be its last and its strong cash position meant it was well placed for further purchases.
The combined Waterfront businesses, whose clients include the Association of Train Operating Companies, Civil Aviation Authority, Port of London Authority and UK Major Ports Group, had a full-year pretax profit of £290,000 on revenues of £2.07 million.
Freshwater will initially pay £945,000 in cash and shares, and up to £1.3 million based on the profit performance of the two businesses in the 15 months following completion.
On its management, the company said its vice chairman Ken Tilley planned to step down at the annual general meeting on January 24.
Freshwater chief executive Steve Howell said: "We have continued with our strategy of building a focused and integrated group under a single brand through national specialisms and regional presence.
"The Waterfront deal puts us among the leaders in public affairs and conferences in one stroke and it has also given us a presence in Europe."
He said the firm believed there were more gains to be made in the future by becoming the leader in the consolidation of a fragmented industry and by offering regional access to specialist and general communication and marketing services.
"Thanks to our AIM fund raising, substantial bank facilities and a positive cash flow from trading, we are well placed for future targeted acquisitions that fit in with our strategy and we will continue on this road as well as driving for more cross selling and increased efficiency," he added.
Freshwater lifted its total dividend for the year by 22 per cent to 2.98p a share from 2.45p earlier, after setting a final dividend of 1.5145p.