A second year of growth for Freshwater
sion.barry@walesonline.co.uk COMMUNICATIONS consultancy Freshwater UK yesterday published its latest annual results showing revenue growing for a second successive year.
Freshwater saw turnover rise 2% to £4.20m in the year ending August 31, including a 4% increase in revenue from fees and commission to £3.49m.
The group has seen revenue increase in the last two years by a total of 11%, following a shift in strategy that has involved a greater focus on the London market and the closure of small, unprofitable offices in Leeds, Edinburgh and Belfast.
Staff numbers at Freshwater’s Cardiff headquarters and in London have grown, the latter prompting a move to larger, newly-refurbished offices in Clerkenwell, central London.
The group now has a 55-strong team and 130 clients across a wide range of sectors including healthcare, transport, energy, education, professional services and consumer.
“The strategy shift has been hugely successful, especially when you consider the 11% growth figure would be more than doubled if you took Cardiff and London separately as the two continuing operations,” said founder and chief executive Steve Howell.
“We do still have clients and win new business in the north of England and Scotland, but we find we can meet their needs very effectively through a combination of a strong London presence and a network of regional consultants, supported by our digital and creative specialists.”
The group’s regional and sectoral breadth is reflected in its top 10 clients by revenue in 2014-15: Thompsons Solicitors, University Hospitals of North Midlands NHS Trust, Unite, North West London Foundation NHS Trust, the Welsh Government, Barts Health NHS Trust, Cavendish Square Group, Specsavers, University of South Wales and First TransPennine Express.
New business wins in the year included the #YellowWelly campaign for Royal National Lifeboat Institution, product launches in London for the Taiwan External Trade Development Council, a campaign to promote the eastern leg of HS2 for a partnership of North of England city councils and media training for Associated British Ports.
Freshwater also won the 2014 PRCA Public Affairs Award for best in-house/agency collaboration with the League Against Cruel Sport for #WhatTheFox campaign.