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Birmingham Post
Birmingham Post
Business
Jon Robinson

Turnover and profits rise at global audio branding agency PHMG

Turnover and pre-tax profits increased at a global audio branding agency which works with the likes of Coca-Cola, Adidas, Samsung and Jaguar.

PHMG, which is headquartered in Manchester, has reported a turnover of £56.4m for the 12 months to December 31, 2020, up from £51.4m.

Its pre-tax profits also increased from £12.7m to £19.2m.

READ MORE: Global cyber security firm NCC Group's full-year profits surge

The company also has offices in Chicago, New York City, Ontario, Melbourne and Singapore. It also announced in May this year that it was going to open a new office in Leeds.

Its portfolio of clients also include Heineken, Siemens, Hallmark and Hilton.

The new figures, filed in a document to Companies House, come after PHMG committed to an additional 10,926 sq ft of space on the sixth floor of Oakland House in Talbot Road, Old Trafford.

A statement signed off by the board said: ""During the last 12 months, the group's strategy was to continue to build on the market-leading position developed over the last 21 years.

"A continued growth in revenue was achieved through an increase in client volume.

"Revenues increased by £5m but the impact of Covid-19 resulted in lower reinvestment costs.

"We have enjoyed incredible growth in recent times and we plan for this to continue over the coming years.

"First and foremost, we intend to invest in our staff - attracting new talent and building in-house skill through training,.

"With our continued focus on our clients, we'll enhance the overall customer experience to maintain our strong satisfaction rate and encourage long-term client relationships.

"Finally, we'll work to remain at the cutting edge of our industry, ensuring our expertise in audio branding matches that of a world leader."

The company was founded in 1998 as PleaseHoldUK in Chester and rebranded to PHMG in 2016.

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