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07 Aug 2017

BY Tom Parry

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Trailfinders says Brexit vote 'adversely affected' trading after £12m profit hit

Trailfinders has blamed the devaluation of the pound following last summer’s Brexit referendum for a £12 million hit to its profits.

Brexit beach, referendum, European Union
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The high street agency made £14.1 million during its financial year to March 2017 – down from £22.5 million the previous year.

Accounts filed at Companies House show the high street agency made £14.1 million during its financial year to March 2017 – down from £22.5 million the previous year.

 

During the year revenue increased to £728.16 million from £682.41 million while the company’s cost of sales increased to £628.59 million from £589.56 million.

 

In a filing statement Trailfinders said its trading profit had been “adversely affected by the sharp and overnight fall in the value of sterling immediately following the 23 June 2016 referendum.”

 

It added: “This unusual event depressed this year’s profit by some £12m but it is expected to recover in 2017/18”.

 

According to accounts, the firm made £3.75 million in charitable donations, up from £3.5 million the previous year, mostly to the Mike Gooley Trailfinders Charity - created by company founder Mike Gooley - which supports medical research and community projects.

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TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: New Bridge Street House, 30-34 New Bridge Street, London EC4V 6BJ
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