PR and marketing group Freshwater UK, which acquired Birmingham-based Quantum PR earlier this year, has revealed its fifth successive year of profitable growth.
The national group increased its turnover and fee income substantially in the year ended August 31, 2005.
Audited results for the year show turnover up 41 per cent from £ 1 . 63 million to £2.30 million, while gross profit (income from fees and commissions) increased 58 per cent from £ 976,000 to £1.54 million, a spokesman said.
Net profit before tax increased 158 per cent from £95,000 to £245,000.
Quantum PR joined the group in May and was renamed Quantum Freshwater UK. It has continued to be managed by Quantum's founders Edward Carter and Anne Parry.
Mr Carter said: "Our partnership with Freshwater has got off to an excellent start.
"We have turned in a good trading performance, ahead of budgets, and gained a number of new clients, including theme park operator Gulliver's and No 5 Chambers, the UK's largest barristers' Chambers."
A spokesman declined to reveal exact figures for Quantum Freshwater UK's performance, but did say it made a £115,000 contribution to gross profit for the group in the final quarter.
In addition to Quantum, Cardiff-based Freshwater UK made two other acquisitions during the year and expanded its team from 21 to 42.
The group now operates from offices in Cardiff, Bristol, London, Glasgow and Edinburgh, as well as in Birmingham.
"The accounts tell only part of the story because they don't include a full year of any of the acquisitions," said finance director Haydn Evans.
"The group has, in fact, doubled in size operationally and is now trading at twice the level of 12 months ago.
"It's particularly encouraging that growth is being achieved both organically - at a rate of 19 per cent in 2004-05 - as well as through acquisitions."
